NTT UD REIT Investment : Notice Concerning Debt Finance and Partial Early Repayment of Term Loans

For Immediate Release	August 23, 2022
REIT Issuer
NTT UD REIT Investment Corporation
1-5-1 Otemachi, Chiyoda Ward, Tokyo
Executive Director	Takeshi Oodera
(Securities Code 8956)
Asset Management Company
NTT Urban Development Asset Management Corporation
President & CEO	Yutaka Torigoe
[Contact]

Director & CFO, Finance	Takeshi Iwata
Department
TEL: [phone]

Notice Concerning Debt Finance and Partial Early Repayment of Term Loans

NTT UD REIT Investment Corporation ("NUD") announces the decision made at its board of directors' meeting held today to borrow funds (the "Debt Finance") and concerning partial early repayment of loans. Details are as follows.

1. Details of the Debt Finance

The Debt Finance involves the borrowing of four term loans (long-term loans with a total borrowing amount of 9,800 million yen). The details are provided in the following tables.

Contract Number			Term loan 117
Expected	Drawdown	Date	and	August 31, 2022
Expected Disbursement Date
Lenders and			The Norinchukin Bank :	2,500 million yen
Amount of Debt Finance
Borrowing Method			The loan agreement dated August 29, 2022 with the lender indicated above
Repayment Date			August 31, 2029
Repayment Method			Lump-sum repayment upon maturity
Interest Rate			Fixed rate: not yet fixed (Note)
Collateral / Guarantee			Unsecured and non-guaranteed
Contract Number			Term loan 118
Expected Drawdown Date and		August 31, 2022
Expected Disbursement Date
Lenders and			MUFG Bank, Ltd. :	1,800 million yen
Amount of Debt Finance
Borrowing Method			The loan agreement dated August 29, 2022 with the lender indicated above
Repayment Date			May 31, 2030
Repayment Method			Lump-sum repayment upon maturity
Interest Rate			Fixed rate: not yet fixed (Note)
Collateral / Guarantee			Unsecured and non-guaranteed
Contract Number			Term loan 119
Expected	Drawdown	Date	and	August 31, 2022
Expected Disbursement Date
Lenders and			Mizuho Bank, Ltd. :	2,500 million yen
Amount of Debt Finance
Borrowing Method			The loan agreement dated August 29, 2022 with the lender indicated above
Repayment Date			August 29, 2031
Repayment Method			Lump-sum repayment upon maturity
Interest Rate			Fixed rate: not yet fixed (Note)
Collateral / Guarantee			Unsecured and non-guaranteed

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Contract Number	Term loan 120
Expected Drawdown Date and	August 31, 2022
Expected Disbursement Date
Lenders and	MUFG Bank, Ltd. :	3,000 million yen
Amount of Debt Finance
Borrowing Method	The loan agreement dated August 29, 2022 with the lender indicated above
Repayment Date	August 31, 2032
Repayment Method	Lump-sum repayment upon maturity
Interest Rate	Fixed rate: not yet fixed (Note)
Collateral / Guarantee	Unsecured and non-guaranteed

(Note) The first interest payment date shall be November 30, 2022, and subsequent interest payment dates shall be the end of February, May, August and November each year and on the principal repayment date (or the preceding business day if the said date is not a business day).

And there will be an announcement regarding the interest rate, once such details have been determined (to be determined on August 29, 2022).

1. Reason for the Debt Finance
   To fund repayment of loan of 8,000 million yen in a long-term loan (Note 1) maturing on August 31, 2022 and to fund partial repayment of the long-term loans (1,800 million yen/the "Repayment") maturing on March 31, 2023.
   (Note 1) Reference: "Notice Concerning Debt Finance and Execution of Interest Rate Swap Agreement" dated September 2, 2015
2. Details of the Repayment

〔Long-term loans〕

(million yen)

Contract Number

Term Loan 111

Lender

Mizuho Bank, Ltd.

Sumitomo Mitsui Trust Bank, Limited

Total

Amount of Loan

2,400

1,600

4,000

Amount of Repayment

△700

△500

△1,200

Amount of Loan after

1,700

1,100

2,800

Repayment

Repayment Date

August 31, 2022

(scheduled)

Interest rate (Floating)

0.22000% (Note)

Drawdown Date

March 28, 2022

Maturity Date

March 31, 2023

Collateral / Guarantee

Unsecured and non-guaranteed

(Note)

The stated interest rate is applicable for the period from July 30, 2022 to August 31, 2022.

〔Long -term loan〕

(million yen)

Contract Number

Term Loan 112

Lender

Sumitomo Mitsui

NTT TC Leasing

MUFG Bank, Ltd.

Total

Banking Corporation

Co.,Ltd.

Amount of Loan

500

500

500

1,500

Amount of Repayment

△200

△200

△200

△600

Amount of Loan after

300

300

300

900

Repayment

Repayment Date

August 31, 2022

(scheduled)

Interest rate (Floating)

0.24000% (Note)

Drawdown Date

March 28, 2022

Maturity Date

March 31, 2023

Collateral / Guarantee

Unsecured and non-guaranteed

(Note)

The stated interest rate is applicable for the period from July 30, 2022 to August 31, 2022.

4. Outstanding Interest-Bearing Liabilities after the Debt Finance and the Repayment

(million yen)

Prior to the Debt Finance

After the Debt Finance

Variation

and the Repayment

and the Repayment

Short-term loans

-

-

-

Long-term loans

114,750

114,750

-

Total loans

114,750

114,750

-

Corporate bonds

11,200

11,200

-

Total interest-bearing liabilities

125,950

125,950

-

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5. Other Matters Required for Investors to Appropriately Understand and Evaluate the Above Information

There will be no change to the content of "Investment Risk / (2) Risk Related to Product Design and Related Parties / (iv) Risk Related to Loans and Investment Corporation Bonds" described in NUD's Securities Report filed on July 28, 2022, due to the Debt Finance and the Repayment.

• NUD's website is http://www.nud-reit.co.jp/en/
• Neither NUD nor NTT Urban Development Asset Management Corporation makes any assurance or warranty with respect to the completeness or accuracy of this English translation. For more complete and accurate information, please refer to the original announcement in Japanese.

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