By Mary-Katherine Stinson
Lexington, Ky., July 19 – Mitsubishi Estate Logistics REIT Investment Corp. priced ¥2.5 billion of green bonds (Japan Credit Rating Agency: AA), according to a notice.
The ¥2.5 billion of 0.9% green bonds due July 25, 2033 priced at a par of ¥100.
Daiwa Securities Co. Ltd., MUFG, Morgan Stanley Securities Co., Ltd. and SMBC Nikko Securities Inc. are the underwriters.
Proceeds will be used to prepay a portion of bank loans on Aug. 1 and Aug. 14.
Specifically, the long-term loan from MUFG Bank (note 2) which bears interest at 0.3913% and the short-term loans from MUFG Bank (note 3) which bears interest at a base rate plus 11 basis points and Mizuho Bank (note 4) which bears interest at a base rate plus 7 bps will all be prepaid with proceeds from the sale.
Borrowings under the loans total ¥1.76 billion for MUFG note 2, ¥430 million for MUFG note 3 and ¥700 million for Mizuho note 4.
The original repayment dates are Sept. 14 for both MUFG loans and March 1, 2024 for the Mizuho loan.
Mitsubishi Estate Logistics REIT Investment is a Japan-based closed-end real estate investment trust based in Tokyo.
| Issuer: | Mitsubishi Estate Logistics REIT Investment Corp.
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| Amount: | ¥2.5 billion
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| Issue: | Green bonds
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| Maturity: | July 25, 2033
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| Bookrunners: | Daiwa Securities Co. Ltd., MUFG, Morgan Stanley Securities Co., Ltd. and SMBC Nikko Securities Inc.
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| Coupon: | 0.9%
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| Price: | Par of ¥100
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| Yield: | 0.9%
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| Pricing date: | July 19
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| Settlement date: | July 25
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| Ratings: | Japan Credit Rating Agency: AA
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