Hong Kong-listed real estate group ESR Group’s Core joint venture has completed the refinancing of a $400 million trust asset-backed loan in Japan, while KKR-owned semiconductor manufacturing equipment maker Kokusai Electric, is targeting a $749 million Tokyo listing.

ESR Group’s joint venture completes refinancing of $400m loan

Hong Kong-listed real estate group ESR Group’s core joint venture in Japan has completed the refinancing of a $400-million trust asset-backed loan.

The core JV was formed in 2018 by ESR, with investments from alternative investments firm AXA IM Alts and Abu Dhabi’s sovereign wealth fund Mubadala Investment Company to invest in core stabilised logistics assets in Japan.

ESR is the third-largest listed real estate investment manager, with approximately $150 billion in total assets under management (AUM).

KKR’s Kokusai Electric eyes $749m listing in Tokyo

KKR-owned semiconductor manufacturing equipment maker Kokusai Electric is targeting a $749-million Tokyo listing, AVCJ reported.

KKR is considering a partial exit in the IPO. Kokusai Electric will sell around 58.8 million shares for 1,890 yen each, with a market capitalisation of 435.5 billion yen, added the report. KKR acquired the firm in December 2017 in a $2.2-billion deal.