Investor Presentaiton
JPR
Financial Strategy
Strive for extended duration and lower average borrowing interest rate by reaping maximum benefits from the favorable debt
financing environment
Basic Policy on Financial Strategy
■Lower interest rates through refinancing
■ Promote long-term, fixed interest rates and diversify and level off
repayment dates
■Maintain commitment line (28.0 billion yen)
Changes in base borrowing rate
(%)
2.0
1.5.
1.0
Swap rate (5Y)
0.5
■ Enhance flexibility of debt financing through complete revision of
financing agreements
0.0
00.04 01.04. 02.04 03.04 04.04 05.04 06.04 07.04 08.04 09.04 10.04
11.04
12.04
■Increase lenders by utilizing syndicated loans
Changes in Maturity and Average Interest Rate of Long-Term Interest-Bearing Debts
(Note) Data has been taken from the swap rate of the five-year Tokyo Swap Reference Rate (10 a.m.) indicated on the Telerate Systems
screen 17143P.
Average interest rate of long-term interest-bearing debts has been decreasing under the favorable debt financing environment, and is projected to continue decreasing slowly
On the other hand, JPR intends to increasingly extend maturity (duration) of long-term interest-bearing debts
Maturity of long-term interest-bearing debts (right axis)
Average interest rate of long-term interest-bearing debts (left axis)
(Reference) Overview of Refinancing in the 22nd Fiscal Period
(years)
Lender: Aozora Bank, Ltd.
2.2%
6
2.07%
Debts to be refinanced (average interest rate)
Amount
1.99%
2.0%
Interest rate
Borrowing terms
2.0 billion yen
1.178%
1.91%
1.85%
22nd period: 5.900 million yen (1.55%)
23rd period: 11.000 million yen (1.39%)
Duration
5
1.76%
Drawdown date
7 years
2012.8.8.
1.8%
Repayment date
2019.8.8
1.6%
1.56%
1.54%
4
Lender: The Bank of Tokyo-Mitsubishi UFJ, Ltd.
1.4%
4.2 yrs
4.1 yrs
3.8 yrs
3.8 yrs
3.7 yrs
3.7 yrs
3.7 yrs
1.2%
3
Amount
Interest rate
Duration
Drawdown date
Repayment date
0
0.0%
End of 16th
Period
End of 17th
Period
End of 18th
Period
End of 19th
Period
End of 20th
Period
End of 21th
Period
As of Aug. 17,
2012
End of 22th End of 23nd
Period
Period
(Note 1) Average interest rate of long-term interest-bearing debts is a weighted average of interest rates at the end of respective periods and dates, calculated in
accordance with the balance of respective interest-bearing debts, for long-term interest-bearing debts maturing in more than one year from the end of respective
periods and dates.
(Note 2) Maturity of long-term interest-bearing debts has been rounded to the first decimal place, and average interest rate of long-term interest-bearing debts has been
rounded to the second decimal place.
Japan Prime Realty Investment Corporation
Borrowing terms
1.0 billion yen
1.178%
7 years
2012.8.8
2019.8.8
+
Borrowing terms
1.0 billion yen
0.948%
5 years
2012.8.8
2017.8.8
27
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