Ichigo Hotel REIT Investment (TYO:3463) secured a 2 billion yen syndicated loan to refinance existing debt, according to a Friday filing on the Tokyo Stock Exchange.
The five-and-a-half-year facility, led by Sumitomo Mitsui Banking, carries interest at one-month yen TIBOR plus 0.65% per year. It will be drawn on Feb. 27 and repaid in a lump sum on Aug. 31, 2031. The loan is unsecured.
Proceeds will be used to repay a 2 billion yen loan maturing at the end of the month.
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