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Overview of Borrowings and Bonds

Overview of Borrowings and Bonds

(As of August 31, 2016)

Total Interest-Bearing Debt・LTV(based on total assets)

(million yen)
(%)

Long-term debt ratio and Fixed-interest debt ratio

(%)

Duration of Interest-bearing debt・Average interest Rate on Fund Procurement

(year)
(%)

Average Financing Cost

(%)

Debt Outstanding by Repayment Term

(million yen)

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Borrowings

(As of August 31, 2016)

  Feb.
2014
Aug.
2014
Feb.
2015
Aug.
2015
Feb.
2016
Aug.
2016
Total interest-bearing debt (million yen) 199,633 215,178 237,905 244,850 256,950 269,117
LTV(based on total assets) (%)(note2) 48.9 46.7 47.1 46.0 46.1 45.5
Long-term debt ratio (%)(note3) 95.5 88.4 89.0 89.9 91.5 93.3
Fixed-interest debt ratio (%)(note4) 89.0 89.8 90.8 91.0 91.4 89.3
Duration of Interest-bearing debt (year)(note5) 3.6 3.7 3.7 4.4 4.2 4.4
Average interest rate on fund procurement (%)(note6) 1.24 1.19 1.13 1.03 0.98 0.87
Average Financing Cost(%)(note7) 1.52 1.47 1.38 1.31 1.20 1.09

Debts outstanding by repayment term (million yen)(note8)

(As of August 31, 2016)

Feb.
2017
Aug.
2017
Feb.
2018
Aug.
2018
Feb.
2019
Aug.
2019
Feb.
2020
Aug.
2020
Feb.
2021
Aug.
2021
2,000 16,000 22,050 17,500 15,260 17,900 18,530 17,100 15,000 14,390
Feb.
2022
Aug.
2022
Feb.
2023
Aug.
2023
Feb.
2024
Aug.
2024
Feb.
2025
Aug.
2025
Feb.
2026
Aug.
2026
17,040 16,430 14,500 16,250 12,800 13,770 9,000 5,000 3,000 5,597

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Bonds

(As of August 31, 2016)

Bond name Balance(million) Coupon(%) Issue Date Maturity Date Note
The 5th unsecured bonds 5,000 0.760 February 08, 2013 February 08, 2018 Un-secured,
non-guaranteed
The 6th unsecured bonds 5,000 0.440 January 20, 2014 July 20, 2018 Un-secured,
non-guaranteed
The 7th unsecured bonds 2,500 1.200 January 20, 2014 January 19, 2024 Un-secured,
non-guaranteed
The 8th unsecured bonds 2,000 0.308 August 11, 2014 August 09, 2019 Un-secured,
non-guaranteed
The 9th unsecured bonds 3,000 0.901 August 11, 2014 August 09, 2024 Un-secured,
non-guaranteed
The 10th unsecured bonds 2,000 0.886 December 19, 2014 December 19, 2024 Un-secured,
non-guaranteed
(note1) All figures for Interest-bearing debt is rounded down to the nearest whole number.
(note2) LTV (based on total assets) is calculated by dividing outstanding interest-bearing debt as of each period by total assets as of the same time. The figure is rounded to the nearest first decimal place.
(note3) "Long-term debt ratio" is obtained by dividing outstanding long-term debts (except long-term debt to be reimbursed or redeemed within one year) as of each period by interest-bearing debts outstanding as of the same period. Figures are rounded to the first decimal place.
(note4) "Fixed-interest debt ratio" is obtained by dividing Fixed-interest debts outstanding (including interest-bearing debts which were rate-fixed through interest rate swap) as of each period by interest-bearing debts outstanding as of the same period. Figures are rounded to the first decimal place.
(note5) "Duration of Interest-bearing debt" is based on the weighted average of the remaining period from the specified point of each interest-bearing debt to its repayment date or maturity date based on the balance of outstanding interest-bearing debt as of the specified point. Figures are rounded to the first decimal place.
(note6) "Average interest rate on fund procurement" represents the weighted-average interest rate(annual rate) at the end of each period. Figures are rounded to the second decimal place. With regard to the average interest rate on the portion of borrowings for which the company concluded interest-rate swap agreements to hedge against interest rate fiuctuation risk, the company used weighted-average interest rates adjusted for the effect of relevant interest-rate swaps.
(note7) “Average financing cost” is the annualized figure calculated by dividing “the sum of interest expenses, interest on investment corporation bonds, financing related expenses (excluding early repayment related expenses and commitment line agreement related expense) and depreciation of investment corporation bonds issuance costs,” in the statements of income, by “the average outstanding total interest-bearing debt” of the period, and is rounded to the nearest second decimal place.
(note8) "Debts outstanding by repayment term" indicates the distribution of OJR's interest-bearing debt that will become due at the end of each fiscal period listed above as of August 31, 2016 and is rounded down to the nearest whole number.

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