JR Global REIT: "Debt Repayment to Be Completed by 2028, One Year Early"

JR Global REIT has unveiled a revised repayment plan under which it will fully repay its principal and interest by the end of 2028, one year earlier than originally planned. The bondholders' meeting to vote on the revised plan has been postponed by a week to December 2.

Finance Tower in Belgium. JR Global REIT website.

JR Global REIT said on November 6 that, after coordinating with institutional creditors and other stakeholders to revise its original repayment plan, its board had approved the changes and the company had announced the final revised plan.

Under the revised plan, JR Global REIT aims to fully repay its principal and interest by the end of 2028. The plan keeps the original schedule of repaying 40% of its debt by the end of next year, but changes the repayment schedule for the remaining 60%, which will now be paid off in full by the end of 2028.

The company will also establish a Repayment Plan Implementation Review Committee to monitor repayment progress with creditors and transparently share key developments and discussions with creditors and shareholders.

If the revised repayment plan is approved at the bondholders' meeting and receives court approval, the company will be more likely to graduate from the Autonomous Restructuring Support (ARS) program and normalize its operations.

A representative of JR Global REIT said, "We determined that graduating from the ARS program is the best course of action for all stakeholders. We will faithfully implement the repayment plan, accelerate the normalization of our operations, and work to restore investor confidence."

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