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Invincible Investment gets six-year green loan to repay debt
By Mary-Katherine Stinson
Lexington, Ky., Jan. 12 – Invincible Investment Corp. agreed to a six-year green loan on Jan. 12 as part of a package totaling ¥33.743 billion in new loan agreements, according to a notice.
The green financing was provided by Mizuho Bank, Ltd., MUFG Bank, Ltd., Sumitomo Mitsui Banking Corp., Sumitomo Mitsui Trust Bank, Ltd., Development Bank of Japan, Inc., San ju San Bank, Ltd. and the Nomura Trust and Banking Co., Ltd.
The ¥8.97 billion green loan will bear interest at Tibor plus a spread of 60 basis points.
The anticipated borrowing date is Jan. 16.
The unsecured loan with no guarantee will be subject to a lump sum repayment on the principal maturity date of March 14, 2030.
Of the loan proceeds, the six-year loan tranche will be used to repay the borrowings used to acquire Hotel MyStays Fuji Onsen Resort and Royal Parks Momozaka, both green buildings which satisfy the eligible criteria of the company’s green finance framework established in August.
Based in Tokyo, Invincible is a real estate investment trust that invests primarily in hotels and residential assets.
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