April 26, 2022
For immediate release
REIT Issuer of Securities Hoshino Resorts REIT, Inc.
Representative: Kenji Akimoto, Executive Director
(Code: 3287)
Asset management company
Hoshino Resort Asset Management Co., Ltd. Representative: Kenji Akimoto, President and CEO
Contact: Takahiro Kabuki, Director and Chief Financial Officer
TEL: +81-3-5159-6338
Notice regarding the conclusion of interest rate swap contracts
Hoshino Resorts REIT, Inc. (hereinafter referred to as “HRR”) announces that the terms of the interest rate swap agreements (hereinafter referred to as the “Interest Rate Swap Agreements”) have been decided and that he has entered into the interest rate swap agreements with respect to the borrowing of funds (Agreement No. funds (refinancing by green loans and others) and interest rate swap transactions”, ” dated April 21, 2022, as follows.
1. Details of interest rate swap contracts
(1) Contract No. 0073
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Consideration |
Nomura Securities Co., Ltd. |
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Theoretical principal |
900,000,000 yen |
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interest rate |
Fixed interest rate payable |
0.2020% |
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Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
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Start date |
April 28, 2022 |
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Termination date |
April 30, 2025 |
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Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0073 will be practically fixed at 0.5020% through the interest rate swap agreements.
(2) Contract No. 0074
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Consideration |
Mizuho Bank, Ltd. |
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Theoretical principal |
300,000,000 yen |
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interest rate |
Fixed interest rate payable |
0.2060% |
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Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
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Start date |
May 2, 2022 |
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Termination date |
April 30, 2025 |
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|
Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0074 will be practically fixed at 0.5060% through the interest rate swap agreements.
|
Consideration |
Mizuho Bank, Ltd. |
|
|
Theoretical principal |
150,000,000 yen |
|
|
interest rate |
Fixed interest rate payable |
0.2620% |
|
Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
|
|
Start date |
April 28, 2022 |
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Termination date |
October 30, 2026 |
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Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0075 will be practically fixed at 0.6670% through the interest rate swap agreements.
(4) Contract No. 0076
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Consideration |
Mizuho Bank, Ltd. |
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Theoretical principal |
300,000,000 yen |
|
|
interest rate |
Fixed interest rate payable |
0.2630% |
|
Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
|
|
Start date |
May 2, 2022 |
|
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Termination date |
October 30, 2026 |
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Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0076 will be practically fixed at 0.6680% through the interest rate swap agreements.
(5) Contract No. 0077
|
Consideration |
Nomura Securities Co., Ltd. |
|
|
Theoretical principal |
1,250,000,000 yen |
|
|
interest rate |
Fixed interest rate payable |
0.3295% |
|
Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
|
|
Start date |
April 28, 2022 |
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Termination date |
April 28, 2028 |
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Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0077 will be practically fixed at 0.9085% through the interest rate swap agreements.
(6) Contract No. 0078
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Consideration |
Nomura Securities Co., Ltd. |
|
|
Theoretical Principal |
100,000,000 yen |
|
|
interest rate |
Fixed interest rate payable |
0.3325% |
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Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
|
|
Start date |
May 2, 2022 |
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Termination date |
April 28, 2028 |
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Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0078 will be practically fixed at 0.9115% through the interest rate swap agreements.
|
Consideration |
Mizuho Bank, Ltd. |
|
|
Theoretical principal |
3,000,000,000 yen |
|
|
interest rate |
Fixed interest rate payable |
0.3570% |
|
Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
|
|
Start date |
April 28, 2022 |
|
|
Termination date |
October 31, 2028 |
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Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0079 will be practically fixed at 0.9920% through the interest rate swap agreements.
(8) Contract No. 0080
|
Consideration |
Mizuho Bank, Ltd. |
|
|
Theoretical principal |
150,000,000 yen |
|
|
interest rate |
Fixed interest rate payable |
0.4140% |
|
Variable interest rate receivable |
Base interest rate (3-month JBA Japanese Yen TIBOR) |
|
|
Start date |
April 28, 2022 |
|
|
Termination date |
October 31, 2029 |
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|
Payment date |
First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination |
(Note) The interest rate for contract #0080 will be practically fixed at 1.1540% through the interest rate swap agreements.
For more details on the loans (contracts n° 0073, 0074, 0075, 0076, 0077, 0078, 0079 and 0080), which are the subject of the interest rate swap contracts, and the reasons for the realization interest rate swap transactions, please refer to “Notice relating to borrowing of funds (refinancing by green loans and others) and interest rate swap transactions” dated April 21, 2022.
2. Future prospects
As the impact of the conclusion of the interest rate swap agreements is minimal, there is no revision of the operating income forecasts for the financial year ending in April 2022 (November 1, 2021 to April 30, 2022) and the fiscal year ending in October 2022 (May 1, 2022 to October 31, 2022).
* HRR website address: https://www.hoshinoresorts-reit.com/en/
Warning
REIT Hoshino Resorts Inc. published this content on April 26, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Apr 26, 2022 06:29:08 UTC.
Public now 2022
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Trends Technical Analysis HOSHINO RESORTS REIT, INC.
| Short term | Middle term | Long term | |
| Tendencies | Bearish | Neutral | Bearish |
Evolution of the income statement
| Medium consensus | – |
| Number of analysts | 0 |
| Last closing price | 682,000.00 |
| Average target price | |
| Average Spread / Target | – |
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