April 12, 2018
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Toru Sugihara
Director and CFO
TEL: +81-3-5425-1340

Notice Concerning Debt Financing and Repayment of Borrowings
Star Asia Investment Corporation (“SAR”) announces today it has decided on debt financing (the “Debt financing”)
and repayment of existing borrowings, as described below.
1. Debt financing(1) Details of Debt financing
Borrowing
Term

Lenderamount(million yen)Interest
rate

Date ofBorrowing(Note 3)borrowing

methodMaturitydate(Note 5)(Note 4)

Repayment
methodSecurity

Borrowing based
A syndicate

on the individualof lenders

term loan

withagreement dated

SumitomoLong-term

Mitsui(Note 1)BankingCorporationand Mizuho

April 18, 2018

Base
7,300

interest

April 20,

rate

2018

+0.45%

based on thebasic agreement

Lump sum
October 20,

repayment2021

on maturity

dated April 15,
2016 assuming

Bank, Ltd. as

Sumitomo Mitsuiarrangers

Banking(Note 2)

Corporation asdate (Note 6)

Unsecured
andunguaranteed

an agent.
(Note 1) Long-term refers to borrowings due after one year. The same applies hereinafter.
(Note 2) The syndicate of lenders consists of Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Sumitomo Mitsui Trust
Bank, Limited., Aozora Bank, Ltd., Shinsei Bank, Limited, Resona Bank, Limited., The Bank of Fukuoka, Ltd., The DaiIchi Life Insurance Company, Limited. and Mizuho Trust & Banking Co., Ltd.
(Note 3) Financing fees and other charges to the lenders are not included.
(Note 4) The first interest payment date is May 20, 2018 and the following interest payment dates will be the 20th of every
month thereafter and the principal repayment date. However, if such date is not a business day, the immediately
following business day, or if such date falls on the next month, the immediately preceding business day are respectively
set as the interest payment date. For borrowings with floating interest rates, the base interest rate applicable to thecalculation period for interest to be paid on each interest payment date is the 1-month interest rate of the Japanese1Yen TIBOR announced by JBA TIBOR Administration at 11 a.m. (Tokyo time, the same applies hereinafter) or at thepoint of time after 11 a.m. and as close to 11 a.m. as possible on the date two business days immediately before eachinterest payment date (two business days before the drawdown date for the first interest payment date). However, incase the concerned interest rate is not announced for some reason or in case the period corresponding to the interest
rate calculation period doesn’t exist, the interest rate (annual rate) determined reasonably by Agent ( Sumitomo MitsuiBanking Corporation). For Japanese Yen TIBOR announced by the JBA TIBOR Administration which is used as the baseinterest rate, please check with the JBA TIBOR Administration website (http://www.jbatibor.or.jp/english/rate/).
(Note 5) If a repayment date is not a business day, repayment shall be made on the next business day; however, if such datefalls on the next month, repayment shall be made on the immediately preceding business day.
(Note 6) If certain requirements, such as advance notification in writing by SAR, are met during the period after implementingthe Debt financing and by the maturity date, SAR is eligible to repay the borrowed amounts either in whole or in partprior to the maturity date.

(2) Reasons for Debt financing
To be allocated for the repayment of long-term debt described in Section 3 below
2. Total amount of funds to be procured by the Debt financing, use of funds and schedule of expenditure(1) Amount of funds to be procured
7,300 million yen in total(2) Specific use of funds to be procured and schedule of expenditureSpecific use of funds
AmountTo be allocated for the repayment of long-term debt
7,300 million yen
described in Section 3 below

Schedule of expenditure
April 20, 2018

3. Repayment of borrowings
Details of borrowings scheduled to be repaid on April 20, 2018 are as follows.

Outstanding
Term

Lenderborrowings(million yen)Interest
rate

Dateofborrowing

Final
principal

Repayment

repayment

methodSecuritydate

A syndicate oflenders withSumitomo
MitsuiBase

Long-Banking

interest

April 20,

April 20,

repayment

termCorporation

rate20162018

on maturity

7,300

and Mizuho+0.30%

Lump sumdate

Unsecured andunguaranteedBank, Ltd. asarrangers(Note 1)
(Note 1) The syndicate of lenders consists of Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., SumitomoMitsui Trust Bank, Limited., Mitsubishi UFJ Trust and Banking Corporation, Aozora Bank, Ltd., Shinsei Bank,
Limited and Resona Bank, Limited.

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4. Status of loans etc. after Debt financing and repayment
Before theBorrowing andRepayment―
43,23043,230―43,230

Short-term borrowings
Long-term borrowings
Total borrowings
Investment corporation bonds
Total borrowings and investment
corporation bonds
Other interest-bearing
liabilitiesTotal interest-bearing liabilities(Unit: million yen)
After theChange
Borrowing andRepayment――
43,230―43,230―――43,230――――43,23043,230―5. Future Outlook The Debt Financing and Repayment is included in the assumptions underlying management
status forecast announced in “Financial Report for Fiscal Period Ended January 31, 2018” dated March 16,
2018, and thus there are no revisions to the management status forecasts for the fiscal period ending July
2018 (February 1, 2018 to July 31, 2018) and for the fiscal period ending January 2019 (August 1, 2018 toJanuary 31, 2019).
6. Other matters required for investors to appropriately understand and evaluate the above information
In conjunction with the risks pertaining to the repayment of the Debt financing, etc., there are no changes to“Part II. Reference Information /II. Information Supplementary to Reference Documents/3. Investment Risks”
stated in the Securities Registration Statement submitted on January 12, 2018.

*Star Asia Investment Corporation website address: http://starasia-reit.com/en/

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