Japan Hotel Reit Investment (JP:8985) has released an update.
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Japan Hotel REIT Investment Corporation has entered into interest rate swap contracts with Mizuho Bank to secure fixed interest rates for its new loans, which are part of a green financing initiative. The contracts cover a principal amount of JPY 6,100MM, effectively fixing the interest rates at 1.2070% for Term Loan 109 and 1.4996% for Term Loans 110 and 111. Following these agreements, approximately 74% of the company’s total interest-bearing debt will have a fixed interest rate.
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