JAPAN REAL ESTATE INVESTMENT CORPORATION

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Japan Real Estate Investment : Announcement of Debt Financing

12/15/2021 | 01:49am EDT

NEWS RELEASE

December 15, 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 long‐term loan of JPY 2 billion executed on June 17, 2014.

2. Overview of the borrowing

Loan 1

Loan 2

(1)

Lender:

The Nishi‐Nippon City Bank, Ltd.

(2)

Amount of loan:

JPY 1,000 million

JPY 1,000 million

(3)

Interest rate:

0. 27875% (Fixed)

0.37375% (Fixed)

(4)

Borrowing date:

December 17, 2021

(5)

Method of borrowing:

Loan agreement dated December 15, 2021

Unsecured/unguaranteed loan

(6)

Interest payment date:

The principal repayment date and the 17th of

every June and December in the period until the

principal repayment date (Note)

(7)

Method of principal repayment:

Lump‐sum repayment on the principal repayment

date

(8)

Principal repayment date:

December 18, 2028

December 17, 2031

(Note) 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.

1

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

(Units: millions of JPY)

Before

After

Increase/Decrease

Short‐term loans payable

21,200

21,200

±0

Long‐term loans payable

21,000

21,000

±0

(Variable interest rate)

Long‐term loans payable

339,700

339,700

±0

(Fixed interest rate)

Total loans

381,900

381,900

±0

Investment corporation bonds

42,993

42,993

±0

Total

42,993

42,993

±0

investment corporation bonds

Total interest‐bearing debt

424,893

424,893

±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 June 25, 2021.

This is the English translation of the announcement in Japanese dated December 15, 2021.

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

2

Disclaimer

JREI - Japan Real Estate Investment Corporation published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 06:48:11 UTC.


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