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    3453   JP3047900000

KENEDIX RETAIL REIT CORPORATION

(3453)
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Delayed Japan Exchange  -  02:00 2022-08-18 am EDT
283700.00 JPY   +0.04%
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Kenedix Retail REIT : Notice Concerning Issuance of Investment Corporation Bonds (Green Bonds)

06/16/2022 | 02:33am EDT

Translation of Japanese Original

June 16, 2022

To All Concerned Parties

REIT Issuer:

Kenedix Retail REIT Corporation

Representative: Moyuru Watanabe, Executive Director

(Securities Code: 3453)

Asset Manager:

Kenedix Real Estate Fund Management, Inc.

Representative: Masahiko Tajima, President & CEO

Contact:Koichiro Nobata, Head of Strategic Planning,

Retail REIT Department

TEL:+81-3-5157-6013

Notice Concerning Issuance of Investment Corporation Bonds (Green Bonds)

Kenedix Retail REIT Corporation ("KRR") today announced the decision to issue investment corporation bonds (green bonds) through public offering based on the comprehensive resolution passed at the board of directors' meeting held on September 22, 2021. The details are provided as follows.

1. Outline of the Investment Corporation Bonds

(1)

Name of investment

Kenedix Retail REIT Corporation 8th Series Unsecured Investment

corporation bonds

Corporation Bonds (Ranking pari passu among the specified investment

corporation bonds) (Green Bonds) ("Investment Corporation Bonds")

(2)

Total issue amount

2,000 million yen

(3)

Form of bond certificate

Subject to the provisions of the Act on Book-Entry Transfer of Corporate

Bonds and Shares. Bond certificates will not be issued.

(4)

Issue price

100 yen per value of 100 yen for each bond

(5)

Redemption price

100 yen per value of 100 yen for each bond

(6)

Interest rate

0.500% per annum

(7)

Denomination price

100 million yen

(8)

Offering method

Public offering

(9)

Subscription date

Thursday, June 16, 2022

(10)

Payment date

Wednesday, June 22, 2022

(11)

Collateral / Guarantee

Neither collateral nor guarantee is provided for the applicable, and no assets

are specifically reserved as collateral for the Investment Corporation Bonds.

(12)

Redemption method and

Friday, October 29, 2027

date

Investment Corporation Bonds may be purchased and cancelled at any time

after the payment date, except for the case separately provided by law or

specified in operational regulations and other rules of book-entry transfer

institution.

If the redemption date of the Investment Corporation Bonds falls on a bank

holiday, the payment will be moved to the preceding bank business day.

(13)

Interest payment date

June 22 and December 22, every year and the redemption date (If the

interest payment date falls on a bank holiday, the payment will be moved

to the preceding bank business day.)

(14)

Credit ratings

AA- (Japan Credit Rating Agency, Ltd.)

(15)

Financial covenant

Negative pledge is set.

(16)

Book-entry transfer

Japan Securities Depository Center, Inc.

institution

(17)

Fiscal agent, issuing agent

MUFG Bank, Ltd.

and payment agent

(18)

Underwriter

SMBC Nikko Securities Inc.

1

2. Reason for the issuance

KRR has positioned sustainability improvement initiatives aimed at realizing a sustainable society as an important business management issue to fulfill its corporate social responsibility, and decided to issue the Investment Corporation Bonds as green bonds based on its green finance framework ("the Framework") (Note) from the view that the issuance enables more committed efforts to improve sustainability and further contribution to development of the domestic green bond market by offering opportunities to the universe of

investors who take active stance towards ESG investment.

(Note) For details of KRR's green finance framework, please refer to the following.

KRR's green finance framework: https://www.krr-reit.com/en/esg/greenfinance.html

3. Amount of funds to be raised, use of proceeds and scheduled disbursement

  1. Amount of funds to be raised (estimated net proceeds) 1,985 million yen
  2. Specific use of proceeds and scheduled disbursement

KRR plans to use the estimated net proceeds of 1,985 million yen for redemption of investment corporation bonds and repayment of borrowings ("the Repayment") listed below, and both were issued or borrowed for the purpose to acquire the eligible green assets (Note 1). Furthermore, for details of repayment of borrowings, please refer to the press release, "Notice Concerning Prepayment of Borrowings (Series 47)" dated today.

Bonds

Issued amount

Redemption date

(millions of yen)

3rd Series Unsecured Investment Corporation Bonds

1,000

August 31, 2022

Series of

Lender

Amount

Principal repayment

Prepayment date

borrowings

(millions of yen)

date

47

Sumitomo Mitsui Banking Corporation

1,000

August 31, 2022

June 30, 2022

(Note 1) "Eligible green assets" refer to green buildings set forth in "Eligibility Criteria 1" of Eligibility Criteria below, which are defined in the Framework:

  • Eligibility Criteria 1
    New or existing investments in or spending for green buildings that have acquired or are expected to acquire, one of the following green building certifications:
    1. Three stars or more of DBJ Green Building Certification (Note 2)
    2. B+ or higher rank of Certification for CASBEE for Real Estate (Note 3)
    3. 3 stars or more of BELS Certification (Note 4)
  • Eligibility Criteria 2
    Spending for construction and facilities repair work of owned properties for the purpose of at least 10% reduction in energy consumption, water consumption or other consumption contributing to environmental improvement.

(Note 2) "DBJ Green Building Certification" is a five-star scale evaluation system launched by Development Bank of Japan Inc. ("DBJ"), giving certifications to properties with proper care to environment and society (Green Building), based on the comprehensive scoring model developed by DBJ.

(Note 3) "Certification for CASBEE (Comprehensive Assessment System for Built Environment Efficiency) for Real Estate" is an evaluation system (from Rank C to Rank S) for rating the overall environmental performance of buildings on energy- conservation, resource-saving, recyclability and other aspects for reducing environmental burdens, as well as landscape preservation.

(Note 4) "BELS (Building-HousingEnergy-efficiency Labeling System) Certification" is a public certification system, the evaluation standards of which are provided by Ministry of Land, Infrastructure, Transport and Tourism, for rating energy-conservation performance of buildings on a five-point scale basis (the number of stars, 1-5) based on the primary energy consumption of architectural structures.

2

4. Status of the interest-bearing debt after the issuance of the Investment Corporation Bonds and the Repayment (as of August 31, 2022)

(Millions of yen)

Balance before the

Balance after the

issuance and the

issuance and the

Difference

Repayment

Repayment

Short-term borrowings (Note 1)

1,750

750

-1,000

Long-term borrowings (Note 2)

113,550

113,550

-

Total borrowings

115,300

114,300

-1,000

Corporate bonds

9,000

10,000

+1,000

Total borrowings and investment corporation bonds

124,300

124,300

-

(Note 1) Short-term borrowings refer to debt financing with a period of less than or equal to one year from the borrowing date to the maturity date. However, in the case where the maturity date has been moved to a different business day because the maturity date of one year from the borrowing date is not a business day, and as a result the borrowing period surpasses one year, the borrowings are included in short-term borrowings.

(Note 2) Long-term borrowings refer to debt financing with a period of more than one year from the borrowing date to the maturity date.

5. Other matters

Risks pertaining to the issuance and redemption of the Investment Corporation Bonds remain unchanged from the description of "Investment Risks" described in the Securities Report submitted on December 23, 2021.

Reference:

KRR submitted shelf registration supplements to the Director of Kanto Local Finance Bureau concerning the Investment Corporation Bonds today.

KRR's website address: https://www.krr-reit.com/en/

This notice is the English translation of the Japanese announcement on June 16, 2022. However, no assurance or warranties are given for the completeness or accuracy of this English translation.

3

Disclaimer

Kenedix Retail REIT Corporation published this content on 16 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2022 06:32:09 UTC.


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