Mitsubishi enters into sustainability-linked, green term loans

Chicago, Oct. 21 – Mitsubishi Estate Logistics REIT Investment Corp. entered into several financing transactions, including green loans and a sustainability-linked loan agreement with Norinchukin Bank, according to a press release.

The REIT is signing for a ¥1 billion green loan with a 0.33% fixed rate due Oct. 25, 2026. The lender is Sumitomo Mitsui Banking Corp.

There is also a ¥5 billion green loan with a 0.55625% fixed rate. The lenders are Chiba Bank, Ltd., Daiwa Next Bank, Ltd., Yamagata Bank, Ltd., Daishi Hokuetsu Bank, Ltd. The loan matures Oct. 25, 2027.

There is a ¥4 billion green loan with Mizuho Bank, Ltd. and Resona Bank, Ltd. Interest is at a 0.95125% fixed rate and the loan matures Oct. 25, 2031.

A ¥2 billion sustainability-linked with Norinchukin will have a nine-year tenor.

The sustainability targets involve CO2 emissions, energy consumption, the company’s green property ratio and a four-star Gresb real estate assessment.

All of the loans will be entered into on Oct. 25.

Mitsubishi is a Japan-based closed-end real estate investment trust.

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