Star Asia expects first green term loan to be signed Aug. 18

By Mary-Katherine Stinson

Lexington, Ky., Aug. 1 – Star Asia Investment Corp. expects to sign its first green term loan on Aug. 18 with Sumitomo Mitsui Banking Corp. and Mizuho Bank, Ltd. as arrangers, according to an announcement Monday.

Joining Sumitomo Mitsui Banking Corp. and Mizuho Bank, Ltd. in the syndicate of lenders are Shinsei Bank, Ltd., Sumitomo Mitsui Trust Bank, Ltd., Aozora Bank, Ltd., Resona Bank, Ltd. and Chiba Bank, Ltd.

The loan will mature Aug. 31, 2027 and will bear interest at Tibor plus 60 basis points.

Proceeds will fund part of the acquisition and related expenses in connection with abeno nini (retail), which is expected to be acquired for ¥9,500 million.

The company’s recently established green finance framework obtained a Green 1(F) evaluation by the Japan Credit Rating Agency, Ltd.

Minato, Japan-based Star Asia is a real estate investment trust that mainly invests in real estate such as business offices, logistics facilities, residential buildings and hotels.

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