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FINWIRES

Mitsui Fudosan Secures 1 Billion Yen Loan to Refinance Maturing Debt

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Mitsui Fudosan (TYO:3226) has secured a 1 billion yen loan from Sumitomo Mitsui Banking, with a 10-year maturity at an interest rate of JBA 1-month TIBOR plus 0.25%.

The funds will be used to repay an existing 2 billion yen loan from the same lender that matures on July 31, according to a Tokyo bourse filing on Wednesday.

The new loan is unsecured and unguaranteed, with bullet repayment due in July 2036.

Following this transaction, the REIT's total interest-bearing debt will decrease slightly from 174.2 billion yen to 173.2 billion yen.

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