Kenedix Announces Establishment of a Commitment Line.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Oct 3, 2006 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Kenedix, Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). 1: 4321), a leading real estate financial advisor and asset manager, has announced the establishment on September September: see month. 29, 2006, of a 44 billion yen commitment line with syndicated banks headed by Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation (SMBC, Mitsui Sumitomo Ginkō, 三井住友銀行) is a Japanese bank based in Tokyo, Japan. as the arranger.
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1. Value JPY 44 billion
2. Contract term September 29, 2006 - September 28, 2007
3. Purpose To acquire real estate properties
(The fund will be used to acquire investments on
proprietary account prior to allocating them to
private funds and REITs.
4. Arranger Sumitomo Mitsui Banking Corporation
5. Agent Sumitomo Mitsui Banking Corporation
6. Participating
financial
institutions Total 37 institutions
7. Terms The commitment line is available for unspecified
properties and gives flexibility for Kenedix to
acquire properties in a timely manner.
Kenedix has been successfully increasing it's AUM,
including recent creation of the 8th fund for
corporate pension funds and other investors and
continuous acquisition by the two REITs of properties.
Under these circumstances, Kenedix requires sufficient
debt financing for further acquisition of properties
for private funds and the two REITs.
The commitment line realizes a tremendous increase of
the borrowing limit compared with the previous one at
31.9 billion yen, and enables Kenedix to acquire a
larger size of properties.
The commitment line is also available for acquisition
of the fee simple ("shoyuu-ken") on properties in
addition to the trust beneficiary right
("shintaku-jueki-ken") only that the previous
facilities could be used for.
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About Kenedix, Inc. Kenedix, founded in April 1995, initially introduced and promoted real estate auctions to Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and investors and financial institutions. Today, the Kenedix Group is an organization advanced in a broad range of real estate services and finance. The Group's overall goal is to maximize In a graphical environment, to enlarge a window to the full size of the screen. See Win Maximize windows. returns on investments, accomplished by leveraging the Group's comprehensive research skills and extensive knowledge of the real estate business to accurately analyze an·a·lyze v. 1. To examine methodically by separating into parts and studying their interrelations. 2. To separate a chemical substance into its constituent elements to determine their nature or proportions. 3. and evaluate trends in a constantly changing market. Kenedix is working to become one of Japan's most prominent real estate asset managers, while building a highly stable and profitable corporate group. For more information, please visit www.kenedix.com. Source: Kenedix, Inc. Contact: Kenedix, Inc. Taiji Yoshikawa Chief Financial Officer +81-3-3519-2530 Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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