Daiwa Office Investment Corporation
Notice Regarding Execution of Interest Rate Swap Agreements
Entered into interest rate swap agreements to hedge variable-rate borrowings into fixed rates. Target principal amounts are 3,400 million yen and 2,500 million yen, totaling 7,900 million yen. Fixed pay rates are based on Zengin Association 3-month JPY TIBOR +0.3750% to +0.2500%, applied between 2028 and 2031. Future interest payment burden will be fixed.
Key Figures
- Total borrowing principal: 7,900 million yen
- Post-fixation pay interest rates: For each lender 2.693%, 2.668%, 2.568%
- Applicable periods: November 13, 2026–November 30, 2028; May 31, 2022–November 29, 2030, etc. (with borrowing date and repayment maturity attached)
AI要約
Transaction Overview
Daiwa Office Investment Corporation, the issuer of real estate investment trust securities, has entered into interest rate swap agreements for part of its existing variable-rate borrowings. The notional principal amounts total 7,900 million yen, with Sumitomo Mitsui Banking Corporation, Resona Bank and Sumitomo Mitsui Trust Bank as counterparties. The agreements commence on November 13, 2026 and end on November 30, 2028, and set fixed interest rates against the Zengin Association 3-month JPY TIBOR for each lender.
Purpose and Impact
These agreements are intended to hedge the risk of rising interest rates by converting variable-rate payments into fixed payments, which is expected to stabilize future interest expense. The ratio of fixed to variable interest-bearing debt before and after the agreements is also disclosed, demonstrating strengthened risk management.
Daiwa Office Investment Corporation
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