Japan Hotel REIT Fixes Rate on 10 Billion Yen Borrowing via Swap

MT Newswires Live
Sep 28

Japan Hotel REIT Investment (TYO:8985) said it entered an interest rate swap agreement with MUFG Bank for nearly 9.9 billion yen worth of loans, according to a Monday filing on the Tokyo Stock Exchange.

The contracts for three-term loans include 134, 135, 136 with fixed interest of 2.83175%, 2.84575% and 2.43000%, respectively, and receive the one-month Japanese Yen TIBOR, effectively fixing the loan's interest rate at 3.28175%, 3.29575%, and 2.73000%, respectively.

The contract term for the three-term loans, including 134 and 135, will be effective Sept. 30 to Sept. 30, 2032; while for 136 will be Sept. 30, 2026, to Sept. 28, 2029.

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