Japan Prime Realty Investment Corporation has decided to borrow ¥32bn in green loans to pay for the JA Building and Keidanren Kaikan, and most of the money is short-dated. The REIT's notice on the borrowing puts ¥29bn into short-term borrowings, up from nil, and only ¥3bn into long-term debt.
Six tranches, three lenders
Mizuho Bank supplies four tranches, Mizuho Trust one and Resona Bank one. All are unsecured, unguaranteed and repaid in a single payment at maturity. Pricing is a spread over one-month yen TIBOR, so the notice does not give an all-in rate.
The longest piece is a ¥3.0bn Mizuho Bank loan at TIBOR plus 0.385%, due 23 October 2036. The other five tranches carry TIBOR plus 0.1% and fall due on 31 March 2027 or 5 July 2027.
| Lender | Amount | Spread over TIBOR | Maturity |
|---|---|---|---|
| Mizuho Bank | ¥3.0bn | 0.385% | 23 Oct 2036 |
| Mizuho Bank | ¥5.0bn | 0.1% | 5 Jul 2027 |
| Mizuho Bank | ¥12.0bn | 0.1% | 31 Mar 2027 |
| Mizuho Bank | ¥3.0bn | 0.1% | 31 Mar 2027 |
| Mizuho Trust | ¥5.0bn | 0.1% | 5 Jul 2027 |
| Resona Bank | ¥4.0bn | 0.1% | 5 Jul 2027 |
Balance sheet and use of proceeds
Interest-bearing debt rises from ¥243bn to ¥275bn after the borrowing. Long-term borrowings, including amounts due within a year, go from ¥219.1bn to ¥222.1bn, and investment corporation bonds stay at ¥23.9bn.
The REIT says the loans follow its sustainability finance framework and will fund the JA Building and Keidanren Kaikan, which it classes as a green-eligible asset. The acquisition is scheduled for 23 October 2026, so neither the purchase nor the borrowing is complete. Terms of the purchase are in a 16 October notice, and the REIT says its investment risk disclosures, as set out in the securities report filed on 25 September 2026, are unchanged. Earlier Tokyo Brief coverage