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Japan Metropolitan Fund to Refinance 7.5 Billion Yen in Maturing Loans

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Japan Metropolitan Fund Investment (TYO:8953) will refinance 7.5 billion yen in existing borrowings maturing Sept. 30 through new loans from four lenders.

The new financing, to be drawn on Sept. 30, includes 2 billion yen from Sumitomo Mitsui Banking, 2.5 billion yen from Resona Bank, 2 billion yen from The Bank of Fukuoka, and 1 billion yen from The 77 Bank, with terms ranging from two to seven years.

All loans carry floating rates based on JBA 1-month yen TIBOR plus spreads of 0.150% to 0.175%, and are unsecured, unguaranteed, and repayable in lump sum.

The refinancing replaces existing loans that were primarily fixed-rate, with the new floating-rate structure reflecting current market conditions.

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