JR Global REIT Faces Loss of Term Benefit on 120 Billion KRW Bond Due to Rehabilitation Filing
JR Global REIT (the issuer) filed for rehabilitation proceedings, resulting in immediate loss of term benefit for its listed bond with outstanding balance of KRW 120 billion (ISIN KR6348951F26).
Grounds for loss of term benefit: The rehabilitation filing constitutes an immediate acceleration event under Article 1-2, Clause 15, Item (1)(A) of the bond indenture.
Date of loss of term benefit and confirmation date: April 27, 2026.
Total principal and interest as of the confirmation date: KRW 120,021,369,863 (including principal of KRW 120 billion).
Bond trustee: Heungkuk Life Insurance Co., Ltd.
This event indicates severe financial distress of the issuer, significantly increasing uncertainty regarding recovery of principal and interest.