Tokyu REIT refinances with ¥2 billion three-year green loan

By Mary-Katherine Stinson

Lexington, Ky., Dec. 28 – Tokyu REIT, Inc. announced it will refinance long-term debt with Mizuho Bank, Ltd. in the form of a ¥2 billion three-year green loan, according to a notice.

Interest will be fixed at 0.78% for the life of the loan, which matures Dec. 27, 2026.

The green loan will repay in full a ¥2 billion loan entered June 27, 2017 with a fixed interest rate of 0.61773%, also through Mizuho, which refinanced the acquisition funds for Conze Ebisu, a specific asset fulfilling the green eligibility criteria. The green loan’s drawdown date was scheduled to occur on the prior loan’s maturity date, Dec. 27, 2023.

As with the loan it will repay, the stated repayment method will be a lump sum at maturity.

The real estate investment trust is based in Tokyo.

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