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Mitsui Fudosan gets ¥2.3 billion in green financing from two banks
By Mary-Katherine Stinson
Lexington, Ky., Feb. 28 – Mitsui Fudosan Logistics Park Inc. received ¥2.3 billion in green financing from two banks, according to a notice.
The first loan is a ¥600 million sustainability linked loan from Mizuho Trust & Banking Co., Ltd. with a base rate of Tibor plus 22.5 basis points. The bullet repayment will be due Feb. 7, 2033.
The interest rate of the sustainability linked loan may be adjusted up or down by 2 bps based on the achievement of a 100% reduction of CO2 emission intensity in logistics facilities by 2030 as compared to the applicable period in 2016.
The second loan consists of a ¥1.7 billion green loan from Sumitomo Mitsui Banking Corp. with a base rate of Tibor plus 33 bps. The bullet repayment will be due March 5, 2035.
Proceeds will be used to repay long-term borrowings from the same lenders incurred as a part of the acquisition of MFLP Hiroshima I, an eligible green asset, which was acquired on March 2, 2020. The borrowing dates were Sept. 1, 2016 and March 2, 2020 on the repaid loans.
Mitsui Fudosan is a real estate development company based in Tokyo.
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