Frontier Real Estate Investment (TYO:8964) secured long-term borrowings to partially fund the acquisition of a 30% quasi-co-ownership stake in Mitsui Shopping Park LaLaport Aichi Togo, according to its bourse filing last Friday.
The unsecured and unguaranteed borrowings, totaling 10 billion yen, will be drawn on March 25, with principal repayments due in full on their respective maturity dates.
The loans include fixed-rate borrowings from multiple lenders, such as Sumitomo Mitsui Trust Bank, Daishi Hokuetsu Bank, The Yamanashi Chuo Bank, The Hachijuni Bank, Joyo Bank, Sumitomo Mitsui Banking Corp., The Yamaguchi Bank, and The Keiyo Bank.
Several loans are designated as green loans, reflecting the company's commitment to sustainable financing.
Interest rates range from 1.18750% to 1.71000%, with maturities extending from March 2029 to March 2035.
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