Mori Trust REIT (TYO:8961) said it will borrow 3 billion yen from Sumitomo Mitsui Banking Corp. (TYO:8316) to refinance long-term debt maturing on April 24, according to a Tuesday filing on the Tokyo Stock Exchange.
The new loan, carrying a fixed interest rate of 1.07127%, is scheduled to be drawn down on April 24 and will mature on Sept. 29, 2028. It replaces a previous 3 billion yen loan taken in April 2019.
The refinancing does not change Mori Trust REIT's overall debt levels. Its total borrowings and bonds remain at 224.5 billion yen.
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