Frontier Real Estate gets ¥2 billion in green loans from Sumitomo Mitsui

By Mary-Katherine Stinson

Lexington, Ky., Aug. 30 – Frontier Real Estate Investment Corp. received ¥2 billion in green loans from Sumitomo Mitsui Banking Corp. to replace loans maturing on July 3, according to a company release.

The new loans consist of a ¥1 billion loan bearing interest at 0.61750% and maturing on July 3, 2030 and a ¥1 billion loan bearing interest at 0.90125% and maturing on July 4, 2033.

The proceeds will be used for refinancing the acquisition of Ginza Glasse, an eligible green asset under the corporation’s green finance framework.

The funds will be drawn down on July 3.

Frontier also borrowed ¥1.5 billion as a convention loan from Sumitomo Mitsui Trust Bank, Ltd.

Frontier is a Tokyo-based retail facilities-specialized real estate investment trust sponsored by Mitsui Fudosan.

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