Hoshino Resorts REIT,Inc. [3287.T]
TOKYO, Apr 16 (Pulse News Wire) – Hoshino Resorts Reit,inc. (3287.T) announced today that its board approved refinancing existing debts through new borrowings totaling up to 3,000 million yen.
The funds will be used to repay previous loans, with part of the proceeds allocated to refinance the initial acquisition cost of the "Risonare Atami" property under their green finance framework. The company secured various loan agreements, including two green loans worth 100 million yen and 200 million yen respectively, which are eligible for the Bank of Japan's climate change support funding operation. Interest rates on these loans will be based on the one-month Japanese yen TIBOR rate published by the Japan Banking Association.
Additionally, Hoshino Resorts REIT plans to execute interest rate swaps to fix the floating rates, mitigating potential risks associated with rising interest rates. Following the refinancing, the total debt will decrease slightly to 105,048 million yen, with sustainable financing increasing by 300 million yen. The company remains committed to advancing sustainability initiatives and enhancing its capital-raising base through engagement with environmentally conscious investors.
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