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Sumitomo Forestry Co ( (JP:1911) ) has provided an update.
Sumitomo Forestry has approved a new loan agreement with Sumitomo Mitsui Banking Corporation, securing up to ¥835.1 billion via a one-year, floating-rate facility to finance the planned 100% acquisition of U.S. homebuilder Tri Pointe Homes and refinance its existing debt. The loan, which carries no collateral and will be repaid in a lump sum at maturity in May 2027, is subject to financial covenants requiring maintenance of minimum net asset levels and an investment-grade credit rating, while the company evaluates the acquisition’s impact on its consolidated results and plans to refinance the borrowing through longer-term funding within about a year.
The most recent analyst rating on (JP:1911) stock is a Sell with a Yen1400.00 price target. To see the full list of analyst forecasts on Sumitomo Forestry Co stock, see the JP:1911 Stock Forecast page.
More about Sumitomo Forestry Co
Sumitomo Forestry Co., Ltd. is a Japan-based company operating primarily in the housing and construction-related sector, leveraging its expertise in wood and building materials. Listed on the Prime Market of the Tokyo Stock Exchange, it engages in development and housing businesses in Japan and overseas, and is expanding its presence in international residential markets.
Average Trading Volume: 4,116,858
Technical Sentiment Signal: Hold
Current Market Cap: Yen852.1B
See more data about 1911 stock on TipRanks’ Stock Analysis page.