Financial Data

Debt Summary

As of Oct. 14, 2022

  • Borrowings
    KRW 1,444,300 million
  • LTV (Based on the appraisal value as of Dec. 2023)
    51.9 %
  • LTC (Loan/(Loan+Equity))
    54.8 %
  • Average Borrowing Period
    2.2 years
  • Ratio of Fixed Interest Rates
    61.4%
  • Weighted Average Interest Rate
    3.4%

Note 1: Borrowings and asset purchase prices may vary from those shown in the consolidated financial statements considering the equity share in the investment subject (REF).

Note 2: The basis of the variable interest rate is the CD rate, which is 3.60% as of 2024/05/20

Note 3: The LTV is the borowings/appraisal value of 18 assets. As of July '23, Bucheon, Gimhae, Yongin, Icheon 2, Icheon 3, and Icheon 6 were appraised by Kyungil Appraisal Corp. In November '23, Goyang, Anseong 1, Anseong 2, Anseong 3, Icheon 5, Gimhae 2, and Anseong 4 were appraised by Jeil Appraisal Corp. Icheon 4 and Pyeongtaek were appraised by Kyungil Appraisal Corp. in November '23. Yongin 2 was appraised by Kyungil Appraisal Corporation in August '23, while Yongin 3 was appraised by Pacific Appraisal Corporation in December '23.

Distribution
by Lender

(%)
As of Dec. 14, 2023

  • K Bank 24.4%

  • I Bank 18.1%

  • S Bank 11.0%

  • D Bank 9.6%

  • N Insurance 8.3%

  • K Insurance 6.9%

  • N Bank 6.0%

  • D Insurance 3.5%

  • H Insurance 3.5%

  • Others 8.8%

Status of
Loan Maturity

(KRW billion)
As of Dec. 14, 2023

  • Subsidary REIT No.1

  • Real Estate Funds(REF)

  • Subsidary REIT No.2

Long-term
Borrowings

(KRW million)
As of Dec 14, 2023

Vehicle Lender Interest rate per annum Fixed / Floating Maturity Amount
Subsidiary REIT No.1 (*) K Bank 4.63 Floating 2026-12-14 100,000
N Bank 4.63 Floating 2026-12-14 60,000
N Insurance 4.63 Floating 2026-12-14 40,000
I Bank 4.63 Floating 2026-12-14 77,000
S Bank 4.63 Floating 2026-12-14 45,000
C Bank 4.63 Floating 2026-12-14 40,000
N Insurance 2.50 Fixed 2025-12-14 80,000
I Bank 2.50 Fixed 2025-12-14 184,200
D Insurance 2.50 Fixed 2025-12-14 50,000
H Insurance 2.50 Fixed 2025-12-14 50,000
Subsidiary REIT No.2 (*) K Insurance 2.50 Fixed 2024-12-20 100,000
K Bank 2.50 Fixed 2024-12-20 237,800
K Bank 2.70 Fixed 2026-12-20 114,500
N Bank 5.20 Floating 2026-05-10 27,000
S Bank 5.20 Floating 2026-05-10 25,600
D Bank 5.20 Floating 2026-05-10 10,000
B Bank 5.20 Floating 2026-05-10 5,000
G Bank 5.20 Floating 2026-05-10 5,000
REF S Bank 5.25 Floating 2026-11-30 42,000
K Bank 4.58 Floating 2026-12-11 38,000
S Bank 5.25 Floating 2025-12-11 19,000
S Bank 5.25 Floating 2025-12-11 23,700
M Insurance 3.36 Fixed 2025-07-10 30,000
S Bank 3.36 Fixed 2025-07-10 27,500
S Capital 3.36 Fixed 2025-07-10 8,000
SB Bank 3.36 Fixed 2025-07-10 3,500
Y Bank 3.36 Fixed 2025-07-10 1,500
Total         1,444,300

Note 1: (*) The consolidated companies’ investment properties are collateralized for the above borrowings (refer to Note 27 of the business report).

Note 2: The above beneficiary certificate is categorized as an associate because it is deemed to have no substantial control under the trust agreement or the Capital Markets Act, given its nature as a trust, even though its equity share exceeds 50%.

Note 3: The CD rate as of 2024/05/21 is used as the basis for the floating rate