TYO:8963

5 stories mentioning TYO:8963Updated 7d ago

Every FINWIRES story that references TYO:8963, newest first.

Invincible Investment's June Hotel Gross Revenue Drops 2%

Invincible Investment (TYO:8963) domestic hotel portfolio gross revenue declined 1.9% year over year to 8.09 billion yen in June, according to a Tokyo bourse filing on Friday.The REIT's revenue per available room (RevPAR) dropped 4% to 10,264 yen, while the occupancy rate ticked down to 82.7%.The average daily rate (ADR) declined 3.9% to 12,412 yen.The yearly change reflected the absence of Expo 2025 accommodation demand, fewer Chinese tourists due to strained bilateral ties, and a series of typhoons.Excluding the impact of China, overall inbound demand stayed solid, with no material effect from the situation in the Middle East, the REIT said.The REIT forecasts July RevPAR to be about 1.2% from a year ago.For the Cayman Islands hotels, RevPAR jumped 21.4% to $285, with occupancy rising to 61.8%, while ADR rose to $462.Gross revenue for the Cayman properties increased 29.3% to $8 million.Shares of the REIT rose more than 1% in Monday's trade.

TYO:8963

Asia20d ago

Invincible Investment Executes Interest Rate Swap Agreements

Japanese real estate investment trust Invincible Investment (TYO:8963) executed interest rate swap agreements for some of its existing borrowings and the borrowings scheduled to be procured on July 16, according to a Tokyo bourse filing on Tuesday.The company entered into interest rate swap agreements covering about 35.03 billion yen of the new borrowings from Sumitomo Mitsui Trust Bank and Mizuho Bank, fixing interest rates at 1.4792% to 2.0417% while receiving one-month JPY TIBOR. The swaps, executed on Tuesday, apply to borrowings maturing between 2027 and 2030, the filing said.

TYO:8963

Asia20d ago

Invincible Investment Secures New 41.1 Billion Yen Loan to Refinance Debt

Japanese real estate investment trust Invincible Investment (TYO:8963) secured 41.1 billion yen in new loan agreements to repay the same amount of existing borrowings, according to its Tokyo bourse filing on Tuesday.The new loan, structured as a green loan, was borrowed from Mizuho Bank, MUFG Bank, Sumitomo Mitsui Trust Bank, Sumitomo Mitsui Banking Corporation, Aozora Bank (TYO:8304), and the Ogaki Kyoritsu Bank (TYO:8361).The new financing comprises six unsecured syndicated loan tranches, which include three green loan tranches, with maturities in 2029 and 2031. The loans carry floating interest rates based on one-month JPY TIBOR plus spreads ranging from 0.250% to 0.450%, and are scheduled to be borrowed on July 16.

TYO:8304TYO:8361TYO:8963

Asia47d ago

Invincible Investment Secures 6.5 Billion Yen in New Loan Agreements

Invincible Investment (TYO:8963) has entered into a 6.5 billion yen new term loan agreement to replenish cash on hand, according to a Tokyo bourse filing on Wednesday.The new loan was secured following the redemption of 5 billion yen in corporate bonds and the repayment of 1.5 billion yen of existing borrowings.The new financing includes a 1 billion green loan from the Development Bank of Japan, with proceeds used to refinance debt tied to the BELS-certified Hotel MyStays Premier Kanazawa.The remaining loans are split among other lenders, with Mizuho Bank providing 1.7 billion yen, MUFG Bank 2.15 billion yen, and Sumitomo Mitsui Banking Corp. 1.65 billion yen, all maturing on July 16, 2029, with floating interest rates at 1-month JPY TIBOR plus 0.250%.

TYO:8963

Asia70d ago

Invincible Investment April Hotel Gross Revenue Slips Amid China Visitor Drop

Invincible Investment (TYO:8963) domestic hotel portfolio gross revenue slipped 0.1% to 9.28 billion yen in April, according to a Tokyo bourse filing on Monday.The REIT's February revenue Per Available Room (RevPAR) decreased 1.6% year-on-year to 12,579 yen, while the occupancy rate gained 0.8 points to 85.8% and the average daily rate (ADR) declined 2.5% to 14,666 yen.The year-on-year change reflected the absence of Expo 2025 accommodation demand, fewer Chinese tourists due to strained bilateral ties, and Easter-driven demand shifting from April to March, though excluding the China impact, overall inbound demand stayed strong with no material effect from the Middle East situation.The REIT forecasts May RevPAR to be approximately 4% higher than the same month last year.For the Cayman Islands hotels, RevPAR jumped 18% to $514, with a higher occupancy of 71.6%, while ADR fell to $718.Gross revenue for the Cayman properties increased 16% year on year to $12.4 million.

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