TIDMJRIC 
 
RNS Number : 3897T 
Japan Residential Inv. Co. Ltd 
28 September 2010 
 

28 September 2010 
          Japan Residential Investment Company Limited ("the Company") 
                              Refinancing of Loan 
Japan Residential Investment Company Limited (AIM: JRIC) is a closed-ended 
Guernsey registered company established to make and hold investments in 
residential property in Japan.  The Company, its subsidiaries and entities in 
which it has a beneficial interest are referred to collectively as "the Fund". 
On 27 September 2010, the Fund entered into an agreement with Mizuho Bank for a 
loan of JPY 3,300 million (GBP 25 million).  The four year term loan will be 
drawn down on 29 September 2010 and carries a floating interest rate consisting 
of a spread of 1.50% plus the prevailing 3-month yen TIBOR, currently 0.36%. 
The loan, which has an amortization requirement of JPY 90 million (GBP 0.7 
million) per annum, is secured by 7 properties externally valued at JPY 7,154 
million (GBP 54 million) as at 31 May 2010, for a loan-to-value ("LTV") of 
46.1%. 
In conjunction with this financing, the Fund will repay all debt outstanding 
with Tokyo Star Bank in the amount of JPY 5,104 million (GBP 38 million) that 
was previously scheduled to mature between February and July 2011.  With this 
financing, Fund debt totals JPY 20,129 million (GBP 151 million) against 
properties valued at JPY 31,643 million (GBP 237 million) as at 31 May 2010 for 
an LTV of 63.6%. 
The next debt maturity is JPY 10,000 million (GBP 75 million) in May 2012.  The 
Investment Advisor is currently in discussion with the lender regarding a 
voluntary, partial pay down of this debt.    Details of these discussions will 
be announced in due course, as appropriate. 
 
Enquiries 
+------------------------------+--------------------+--------------+ 
| K.K. Halifax Asset           | Alec Menikoff      | +81 (0)3     | 
| Management                   |                    | 5563 8771    | 
+------------------------------+--------------------+--------------+ 
| Smith & Williamson Corporate | Azhic Basirov      | +44 (0)20    | 
| Finance Limited              |                    | 7131 4000    | 
+------------------------------+--------------------+--------------+ 
| Fairfax I.S. PLC             | John               | +44 (0)20    | 
|                              | Korwin-Szymanowski | 7460 4376    | 
|                              | Gillian McCarthy   |              | 
+------------------------------+--------------------+--------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCBLGDCCBDBGGR
Japan Residential ORD 10P (LSE:JRIC)
Historical Stock Chart
From Sep 2024 to Oct 2024 Click Here for more Japan Residential ORD 10P Charts.
Japan Residential ORD 10P (LSE:JRIC)
Historical Stock Chart
From Oct 2023 to Oct 2024 Click Here for more Japan Residential ORD 10P Charts.