IGIS RESIDENCE REIT Decides to Borrow 90 Billion KRW to Repay Existing Debts
IGIS RESIDENCE REIT disclosed on June 17, 2026 via board resolution that it decided to borrow a total of 90 billion KRW to repay existing borrowings.
The loan terms are 82 billion KRW from FNIR First SPC and 8 billion KRW from Yuanta Savings Bank at a fixed rate of 5.8% per annum, with a 24-month maturity and bullet repayment, and no early repayment fee.
The borrowing will be used to repay existing debts totaling 97 billion KRW, including the 6th series electronic short-term bonds of 22 billion KRW maturing on June 18, 2026, and the 7th series corporate bonds of 30 billion KRW, 7th and 8th series electronic short-term bonds of 45 billion KRW maturing on June 23, 2026.
Collateral includes equity securities of IGIS No.151 Professional Private Real Estate Investment Limited Company and beneficiary certificates of IGIS Rental Housing General Private Real Estate Investment Trust No.166, with a maximum bond amount of 120% of the loan agreement.
This borrowing does not involve any issuance of new shares, so there is no dilution risk for existing shareholders, and it is seen as a measure to secure financial stability by repaying existing debts.
[AI Summary]The 90 billion KRW borrowing by IGIS RESIDENCE REIT is a defensive financial move to repay maturing short-term bonds, aiming to stabilize the debt structure without issuing new shares. The fixed-rate long-term maturity terms ease short-term liquidity pressure, but the purpose is limited to refinancing existing debts rather than growth or shareholder returns, limiting upside for per-share value. The counterparties being a special purpose company and a savings bank are neutral in terms of creditworthiness.
KOSPI Filing Information
[Correction of Description] Borrowing of Funds by Real Estate Investment Company