Japan Real Estate Investment : Announcement of Debt Financing

NEWS RELEASE

April 14, 2021

For Immediate Release

Investment Corporation

Japan Real Estate Investment Corporation

Yutaka Yanagisawa, Executive Director

(TSE code: 8952)

Asset Management Company

Japan Real Estate Asset Management Co., Ltd.

Naoki Umeda, President & CEO

Contact: Masaru Motooka

Executive Officer & General Manager

Planning Department

Phone: +81‐3‐3211‐7951

Announcement of Debt Financing

Japan Real Estate Investment Corporation hereby announces its decision today to procure funds as follows:

1. Reason for the borrowing

Repayment of the existing short‐term loan of JPY 7 billion executed on April 20, 2020.

2. Overview of the borrowing

(1)	Borrowing date	April 20, 2021
(2)		Lender, Amount of loan, Principal repayment date
		Lender		Amount of loan	Principal repayment date
		Mizuho Bank, Ltd.		JPY 5,000 million	April 20, 2022
		Sumitomo Mitsui Trust		JPY 2,000 million
		Bank, Limited
(3)					Bankers
	Interest rate:		Base rate (1‐month JPY	TIBOR published by Japanese
				Association (hereinafter "JBA")) + 0.040% (Note1)
(4)	Method of borrowing:	Loan based on overdraft agreement
				Unsecured/unguaranteed loan
(5)	Interest payment date:	The principal repayment date and the 20th of every month in the
				period until the principal repayment date (Note2)
(6)	Method of principal repayment:	Lump‐sum repayment on the principal repayment date

(Note1)・The base rate to calculate the interest to be paid on interest payment dates is JBA 1‐month JPY TIBOR as of the second preceding business day of the borrowing date for the first interest payment date and as of the second preceding business day of the most recent interest payment date for the subsequent interest payment dates. (JBA 1‐month JPY TIBOR as of April 14, 2021 is 0.080%.)

・For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration's website

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(http://www.jbatibor.or.jp/english/rate/).

(Note2) When an interest payment date is not a business day, the interest shall be paid on the following business day or the immediately preceding business day if the following business day is in the following month.

3. Balance of interest‐bearing debt after the debt financing

								(Units: millions of JPY)
			Before		After		Increase/Decrease
	Short‐term loans payable	18,000		18,000		±0
	Long‐term loans payable	20,000	20,000	±0
	(Variable interest rate)
	Long‐term loans payable	338,500	338,500	±0
	(Fixed interest rate)
	Total loans		376,500			376,500			±0
	Investment corporation bonds	42,993		42,993		±0
	Total		42,993			42,993			±0
	investment corporation bonds
	Total interest‐bearing debt		419,493			419,493			±0

4. Others

Regarding risks pertaining to these loan repayments, there is no material change to the descriptions of "Investment risks" in the latest securities report submitted on December 25, 2020.

This is the English translation of the announcement in Japanese dated April 14, 2021.

No assurance or warranties are given for the completeness or accuracy of this English translation.

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