Daiwa Office gets green loan financing totaling ¥2.3 billion

By Mary-Katherine Stinson

Lexington, Ky., Aug. 24 – Daiwa Office Investment Corp. signed for loans totaling ¥5.3 billion including two green loans for ¥2.3 billion, according to a notice.

The green loans consist of ¥1.3 billion from Nippon Life Insurance Co. and ¥1 billion from Shinsei Bank, Ltd., both with a repayment date of Aug. 31, 2029.

The Nippon loan bears interest at 0.633933% and the Shinsei loan at Tibor plus 30 basis points.

The loans qualify as green loans based on the company’s green finance framework, established in July 2020, which has obtained a ranking of Green1 (F). The Shinsei loan is in compliance with Shinsei’s green finance framework established by the bank as an initiative that recognizes clear environmental improvement effects.

Proceeds from Daiwa’s total borrowings will be used for the repayment of ¥5.3 billion borrowed and due on Aug. 31.

Daiwa Office is a real estate investment trust based in Tokyo focused on investment and management of office buildings in the central five wards of the city.

© 2015 Prospect News.
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