April 25, 2024
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Officer(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative:
Atsushi Kato
President and CEO
Contact:
Akiko Kanno
Director and CFO
TEL: +81-3-5425-1340

Notice Concerning Debt Financing (Refinancing by Green Loans)Star Asia Investment Corporation (“SAR”) announces today that it has decided to execute debt financings (the“Debt Financing” or “Refinancing”) as described below. This Debt Financing are to be executed by using green
loans based on the Green Finance Framework (the “Framework”) formulated by SAR.
1.

Details of the Debt Financing
Method of Borrowings: Borrowings under individual term loan agreements signed on April 25, 2024 withthe lender described below.

Term(Note 1)

LenderBorrowingamountInterest Rates

Expected(Note 3)

Date of(Note 4)

Borrowings

Principal
Repayment

Repayment

DateMethod

Security(Note 5)

Sumitomo Mitsui

Short-term

Banking500Corporation

million(Green loan)

yenBaseinterest(Note 2)
FloatingborrowingsMizuho Bank, Ltd.

500

(Green loan)

million(Note 2)

yenrateApril 30,

April 30,

(JPY 3M

2024

2025TIBOR)＋0.20 %

Lump sum
repayment
onprincipal
repaymentdate(Note 6)

UnsecuredandUnguaranteed(Note 1) Borrowings with a repayment period of 1 year or less are classified as “short-term” and borrowings withrepayment periods exceeding 1 year are classified as “long-term”. The same applies below.
(Note 2) The borrowings are to be made as refinancing of funds which were required to acquire assets which satisfied
the green eligibility criteria under the Framework. For details of the Framework, please refer to the "Green
Finance Framework" page on SAR's website.
(https://starasia-reit.com/en/esg/greenfinance.html)(Note 3) The first interest payment date is July 31, 2024, and thereafter, interest payment dates are the last day of every
3-months and the principal repayment date. However, if such date is a non-business day, the interest payment

1date shall be the immediately following business day, or if such date falls in the next month, the interest payment
date shall be the immediately preceding business day. For borrowings with floating interest rates, the baseinterest rate applicable to the calculation period for payment of interest on any given interest payment date is
the Japanese Yen TIBOR for 3 months as announced by JBA TIBOR Administration at 11 a.m. (Tokyo time, thesame applies hereinafter) or at the point of time after 11 a.m. and as close to 11 a.m. as possible, on the date
which is two business days prior to the immediately preceding interest payment date (or two business days before
the drawdown date for the first interest payment date). However, if no interest rates are found for thecorresponding interest calculation period, the base interest rate for the relevant period shall be calculated basedon the method set forth in the individual term loan agreement. For Japanese Yen TIBOR announced by the JBA
TIBOR Administration which is used as the base interest rate, please check with the JBA TIBOR Administration
website (https://www.jbatibor.or.jp/english/rate/) Concerning the Debt Financing, SAR may consider fixing theinterest payments by entering into interest rate swap agreements, etc.
(Note 4) Financing fees and other charges payable to the lenders are not included.
(Note 5) If a principal repayment date is not a business day, repayment shall be made on the next business day; however,
if such date falls on the next month, repayment shall be made on the immediately preceding business day.
(Note 6) If certain conditions, such as advance notification in writing by SAR, are satisfied during the period between thedate of execution of the Debt Financing and the principal repayment date, SAR may prepay the borrowed amounts
either in whole or in part prior to maturity.
(Note 7) Certain financial covenants, such as stipulating that certain financial figures should be maintained based on assets
and liabilities, are expected to be established for the Debt Financing.

2.

Reason for the Debt Financing
The proceeds from the Debt Refinancing will be appropriated to the repayment of the 1,000 million yen
long-term borrowing to mature on April 30, 2024. For details, please refer to the press release announcedby SAR dated April 26, 2023 entitled “Notice Concerning Debt Financing (Refinancing)”.

3.
I.

Total amount of funds to be procured by the Debt Financing, use of funds and schedule of expenditures
Amount of funds to be procured
Total 1,000 million yen

II.

Specific use of funds to be procured and schedule of expenditures
AmountSpecific use of funds
To be allocated to repayment of the existing loans
stated in Section 2 above.

4.

Scheduled date ofExpenditure

1,000 million yen

April 30, 2024

Status of Borrowings etc. after the Refinancing(Unit: million yen)

Short-term borrowings
Long-term borrowings
Total borrowings
Investment corporation bonds
Total of borrowings andinvestment corporation bonds

Before theRefinancing
1,300
120,840
122,140
1,000

After theRefinancing
2,300
119,840
122,140
1,000

123,140

123,140

2

Increase/Decrease
1,000-1,000－－－

5.

Future outlook
The impact of the Refinancing on SAR’s operating results is immaterial, and there are no changes to theforecasts of operating results for the fiscal period ending July 31, 2024 (February 1, 2024 to July 31,2024) and ending January 31, 2025 (August 1, 2024 to January 31, 2025) which were announced by SAR
in the “Financial Report for Fiscal Period Ended January 31, 2024” on March 15, 2024.

6.

Other matters required for investors to appropriately understand the relevant information and makedecisions
Concerning the risks related to Refinancing, there are no changes to the contents described in “Part I:
Fund Information / Section 1 - Status of the Fund / 3. Investment Risks” of the Securities Reportsubmitted on October 30, 2023.
* Star Asia Investment Corporation website address: https://starasia-reit.com/en/

This is an English translation of the announcement in Japanese dated April 25, 2024.
However, no assurance or warranties are given for the completeness or accuracy of this English translation.

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