Source disclosure: January 15, 2026
Canadian Solar Infrastructure Fund,Inc. [9284.T]
TOKYO — Canadian Solar Infrastructure Fund, Inc., represented by Executive Director Hiroshi Nakamura, announced today that it has decided to borrow an aggregate amount of 38 billion yen ($297 million USD as of January 15, 2026 exchange rates). The funds will be used primarily to repay its first unsecured investment trust bond due on January 26, 2026.
The company plans to execute this borrowing through two separate loans from Mitsubishi UFJ Financial Group. One is a long-term loan of 23 billion yen with an interest rate of 0.45 percent above the benchmark Tokyo Interbank Offered Rate (TIBOR), and another short-term loan of 15 billion yen with an interest rate of 0.40 percent above the same benchmark. Both loans have a repayment period starting one year after their respective execution dates on January 20, 2026.
This borrowing arrangement includes several conditions precedent such as the satisfaction of all terms and conditions stipulated in the relevant agreements between the borrower and lenders, including financial covenants. These covenants include maintaining certain ratios like debt-to-equity ratio and debt service coverage ratio. If these covenants are breached consecutively over two periods or if there is an event leading to loss of interest, additional collateral may be required.
The total borrowed amount could fluctuate until the actual disbursement date based on current market conditions. Interest calculation periods correspond to three-month intervals of the Japanese Yen TIBOR published by the Japan Bankers Association's TIBOR Operating Committee, subject to adjustment according to predefined methods outlined in the contract should corresponding rates not exist.
In addition to repaying the existing bond, the fund aims to maintain its overall financial health post-borrowing. As per the provided table, the total liabilities before the new borrowing stood at 45.127 billion yen, which would increase to 48.927 billion yen following the transaction. This includes adjustments to both short-term and long-term debts.
Furthermore, the company highlighted that no significant changes have occurred regarding risks associated with the repayment of this borrowing since the information was last disclosed in the securities filing submitted on September 29, 2025. Investors can refer to the "Investment Risks" section under "Fund Information" in the first part of the filing document for detailed risk factors.
For more information, investors can visit the official website of Canadian Solar Infrastructure Fund, Inc., located at https://www.canadiansolarinfra.com.
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