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An update from TOKYU REIT ( (JP:8957) ) is now available.
TOKYU REIT has arranged an ¥1.2 billion long-term green loan from Mizuho Bank to refinance an existing borrowing tied to funds used for the Akasaka 4-chome Building, which has since been replaced by the Meguro Higashiyama Building, a property meeting the REIT’s green eligibility criteria. The new loan, unsecured and unguaranteed, carries a floating rate based on one-month JBA Japanese Yen TIBOR plus 0.42%, has an eight-year term to May 2034, and will be repaid in a lump sum at maturity.
Proceeds from the green loan, together with cash on hand, will be used to fully repay a ¥1.7 billion fixed-rate long-term borrowing taken out in November 2018 that matures on May 12, 2026. After the refinancing and repayment, TOKYU REIT’s total long-term debt will decline by ¥500 million to ¥94.0 billion, reducing overall interest-bearing debt to ¥105.0 billion and underscoring the REIT’s ongoing efforts to optimize its capital structure while aligning funding with sustainability objectives.
More about TOKYU REIT
TOKYU REIT, Inc. is a Japanese real estate investment trust focused on income-producing properties, primarily in urban areas such as Tokyo. Managed by Tokyu Real Estate Investment Management Inc., the REIT targets stable, long-term returns through a diversified portfolio and active asset replacement strategies, including environmentally certified assets qualifying for green finance.
Average Trading Volume: 1,873
Technical Sentiment Signal: Buy
Current Market Cap: Yen185.2B
For an in-depth examination of 8957 stock, go to TipRanks’ Overview page.