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FINWIRES

Japan Logistics Fund Borrows 1 Billion Yen for Narita Logistics Center Acquisition

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Japan Logistics Fund (TYO:8967) has secured a total of 1 billion yen in short-term loans from three banks to partially fund its acquisition of the Narita Logistics Center, according to a Tokyo bourse filing on Thursday.

The new facilities include a 600 million yen loan from Sumitomo Mitsui Trust Bank and another 200 million yen from MUFG Bank. Both loans carry BA 1-month JPY TIBOR plus 0.260% interest.

Separately, Sumitomo Mitsui Banking Corp. will lend the REIT 200 million yen at a JBA 1-month JPY TIBOR plus 0.250% interest.

Following the borrowing, the REIT's total interest-bearing debt will increase to 124.7 billion yen from 123.7 billion yen.

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