GLP J-REIT (TYO:3281) entered into an interest rate swap agreement with Mizuho Bank to hedge against interest rate fluctuations on a previously announced borrowing, according to a same-day filing on the Tokyo exchange.
The agreement, effective May 29, covers a notional principal of 2.52 billion yen. Under the terms, GLP J-REIT will pay a fixed rate of 1.208% and receive a floating rate based on the JBA 6-month yen TIBOR, the filing said.
The swap terminates on May 31, 2030, with interest payments due semiannually in May and November.
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