Canadian Solar Infrastructure Fund, Inc.

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Current Overview on Interest Bearing Debt

Borrowings

As of April 26, 2019

Type
Lenders
Amount
(100 million)
Interest rate
Borrowing
date
Repayment date
Manner of repayment
Notes
Long-term Shinsei Bank, Limited
Mizuho Bank, Ltd.
Sumitomo Mitsui Banking Corporation
MUFG Bank, Ltd.
Resona Bank, Limited
ORIX Bank Corporation
The Hiroshima Bank, Ltd.
The Nanto Bank, Ltd.
Oita Bank Co., Ltd.
The Shonai Bank, Ltd.
The Mie Bank, Ltd.
The Tochigi Bank, Ltd.
¥ 147.9 0.845%
(Note 1)
(Note 2)
(Note 3)
October 31, 2017 The corresponding date at 10 years from the borrowing date Balloon
(Note 4) (Note 6)
Unsecured
Non-guaranteed
(Note 5)
Long-term Sumitomo Mitsui Banking Corporation ¥ 8.4 Base rate plus
0.45%
(Note 1)
(Note 2)
February 1, 2018 The corresponding date at 3 years from the borrowing date Balloon
(Note 4) (Note 6)
Unsecured
Non-guaranteed
(Note 5)
Long-term Shinsei Bank, Limited
Sumitomo Mitsui Banking Corporation
MUFG Bank, Ltd.
The Nanto Bank Ltd.
The Ashikaga Bank,Ltd.
The Hiroshima Bank,Ltd.
¥ 78.0 1.042%
(Note 1)
(Note 2)
(Note 3)
September 6, 2018 The corresponding date at 10 years from the borrowing date Balloon
(Note 4) (Note 7)
Unsecured, Non-guaranteed
(Note 5)
Long-term Shinsei Bank, Limited ¥ 7.0 Base rate plus 0.45%
(Note 1)
(Note 2)
March 29, 2019 The corresponding date at 3 years from the borrowing date Balloon
(Note 4) (Note 10)
Unsecured, Non-guaranteed
(Note 5)
(Note) Long-term refers to borrowings that have a period of over one year from the drawdown date to the maturity date.
(Note 1) Finance-related costs paid to the lenders are not included.
(Note 2) The applicable base rate for each interest calculation period (being 6 months, excluding the first and last interest period) for the calculation of the interest payable on the interest payment date will be the 6 month Japanese yen TIBOR (Tokyo Interbank Offered Rate) announced by the General Incorporated Association JBA (Japanese Bankers Association) TIBOR Administration on the 2nd business day prior to the borrowing Date for the first interest calculation period and on the 2nd business day prior to the beginning of each relevant interest calculation period thereafter.
(Note 3) The interest rate for the full amount of the Term Loan is effectively fixed with the execution of the interest rate swap agreements.
(Note 4) CSIF can make an early repayment during the period from the drawdown date to the maturity date of all or part of our borrowings subject to certain conditions, such as prior written notice to the relevant lenders.
(Note 5) The loan agreements contain restrictive financial covenants to be applied on each settlement date of CSIF, such as the total amount of interest-bearing liabilities to the total asset value (LTV), debt-to equity ratio and debt service coverage ratios as indicators to determine the ability of CSIF to repay the loan. Breaches of such covenants for 2 successive fiscal periods or an occurrence of an acceleration event could result in being required to grant security interests in favor of the lenders.
(Note 6) The first principal repayment date will be June 30, 2018, and subsequent principal repayment dates will be the last days of June and December (if a principal repayment date is not a business day, then the payment will be made on the immediately succeeding business day; provided, however, that if such payment day falls into the following month, then the payment will be made on the immediately preceding business day) and the remaining principal on the Maturity Date will be repaid in a single instalment (balloon amortization).
(Note 7) The first principal repayment date will be December 31, 2018, and subsequent principal repayment dates will be the last days of June and December (if a principal repayment date is not a business day, then the payment will be made on the immediately succeeding business day; provided, however, that if such payment day falls into the following month, then the payment will be made on the immediately preceding business day) and the remaining principal on the Maturity Date will be repaid in a single instalment (balloon amortization). The rate of capital redemption planned on December 31, 2018 is 2.418% of each the Anticipated Borrowing Amount if the loan takes the Balloon Payment method.
(Note 8) The first principal repayment date will be June 30, 2019, and subsequent principal repayment dates will be the last days of June and December (if a principal repayment date is not a business day, then the payment will be made on the immediately succeeding business day; provided, however, that if such payment day falls into the following month, then the payment will be made on the immediately preceding business day) and the remaining principal on the Maturity Date will be repaid in a single instalment (balloon amortization). The rate of capital redemption planned on June 30, 2019 is 2.746% of each the Anticipated Borrowing Amount if the loan takes the Balloon Payment method.

Investment Corporation Bonds

As of December 31, 2018

The Investment Corporation has not issued investment corporation bonds.

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