November 24, 2020
FOR IMMEDIATE RELEASE
Activia Properties Inc.
21-1, Dogenzaka 1-chome, Shibuya-ku, Tokyo
Kazushi Sato
Executive Director(Code: 3279)
Asset Management Company
TLC REIT Management Inc.
Hiroyuki Tohmata
President & CEOInquiries
Kazuyuki Murayama
General Manager of Strategy Department
Activia Management Division(Tel: +81-3-6455-3377)

Notice Concerning Borrowings of Funds
Activia Properties Inc. (“API”) announces today that it decided to borrow funds (the “Borrowings”).
Details are as follows:
I. Borrowing①
1．Details of the borrowing< Short-term borrowing >Borrowing andrepayment
LoanInterest
Drawdown
Due date
Lendermethods,amountrate
date (plan)(Note 1)security, andguarantee
Borrowing basedon a borrowing
agreement withthe lenders
Sumitomo Mitsui Trust Bank, Limited
1,518
0.13 %
November 30, November 30,
shown at left as
Mizuho Bank, Ltd.
million+Base rate
2020
2021
the creditor,
MUFG Bank, Ltd.
yen
(Note 2)lump-sum
repayment,
unsecured, andunguaranteed(Note 1) If the due date is a non-business day, it shall be the following business day. If such day falls in the following month,it shall be the immediately preceding business day.
(Note 2) The interest payment will be made on the last day of December 2020 and the last day of each month thereafter aswell as on the due date of the principal. (If an interest payment date is a non-business day, it shall be the following
business day. If such day falls in the following month, it shall be the immediately preceding business day.)The base rate applicable to the period for the calculation of the interest payable on an interest payment date is theJBA one-month Japanese Yen TIBOR as of a date two business days prior to the interest payment date immediatelypreceding each interest payment date. (For the first interest payment, it will be on the drawdown date.) However, if
the base rate applicable to the calculation period doesn’t exist, the base rate will be the one corresponding to theperiod that will be calculated based on a method provided in the agreement.
After this, API will not announce the interest rate decisions for the borrowing. For changes in the JBA Japanese YenTIBOR, the base rate, please check the website of the JBA TIBOR Administration (http://www.jbatibor.or.jp/english).

2．Reasons for the borrowing

1API will use the borrowing to redeem a short-term borrowing of 1,518 million yen which becomes mature on
November 30, 2020 (the “Existing Short-term Borrowing”). For the details of the Existing Short-term Borrowing,
please refer to “Notice Concerning Borrowing of Funds” released on April 10, 2020 and “Notice Concerning
Partial Early Repayment of Funds” released on October 15, 2020.
3．Amount, use and schedule of disbursement of funds to be raised(1) Total amount
1,518 million yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Short-term Borrowing(3) Scheduled date of disbursement
November 30, 2020
II. Borrowing②
1.

Details of the borrowing< Long-term borrowing>
Borrowing andrepayment
Loan
Interest
Drawdown
Due date
Lendermethods,
amountrate
date (plan)(Note 1)security, andguarantee
Borrowing basedon a borrowing
agreement with
Sumitomo Mitsui Trust Bank, Limited
To be
the lenders
Mizuho Bank, Ltd.
5.3
determinedDecember
Decembershown at left as
MUFG Bank, Ltd.
billion(Fixed rate)21, 2020
21, 2029
the creditor,Sumitomo Mitsui Banking Corporationyen(Note 2)
lump-sum
Development Bank of Japan Inc.
(Note 3)
repayment,unsecured, andunguaranteed(Note 1) If the due date is a non-business day, it shall be the following business day. If such day falls in the following month,it shall be the immediately preceding business day.
(Note 2) Interest rate of the borrowing will be announced upon the determination.
(Note 3) The interest payment will be made on the last day of June 2021 and the last days of June and December in each year
thereafter as well as on the due date of the principal. (If an interest payment date is a non-business day, it shall be thefollowing business day. If such day falls in the following month, it shall be the immediately preceding business day.)

2． Reasons for the borrowing
API will use the borrowing to redeem a long-term borrowing of 5.3 billion yen which becomes mature onDecember 21, 2020 (the “Existing Long-term Borrowing”). For the details of the Existing Long-term Borrowing,
please refer to “Notice Concerning Borrowing of Funds” released on December 9, 2013.

23． Amount, use and schedule of disbursement of funds to be raised(1) Total amount
5.3 billion yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Long-term Borrowing(3) Scheduled date of disbursement
December 21, 2020
Ⅲ．Status of borrowings payable, etc. after the Borrowings
1.

Interest-bearing debt balance after the Borrowings(In millions of yen)
Beforethe Borrowings(As of November 24,2020)

Afterthe Borrowings(As of December 21,2020)

6,518

6,518

0

26,25020,950(5,300)

190,100

195,400

5,300

222,868

222,8680

Investment corporation bonds
to be redeemed within one year000

Investment corporation bonds

21,50021,5000

244,368

244,368

0

Short-term borrowings(Note)

Long-term borrowings
to be repaid within one year
Long-term borrowings(Note)

Total amount of borrowings

Total amount of borrowings andinvestment corporation bonds

Change(Note) Short-term borrowings refer to borrowings with a maturity period of one year or less, and long-term borrowings refer
to borrowings with a maturity period of more than one year.

2.

Basic financing information after the Borrowings
Beforethe Borrowings(As of November 24,2020)

Afterthe Borrowings(As of December 21,2020)

97.3%

97.3%

086.6%

88.8%

2.2

89.9%

89.9%

0Long-term borrowing ratio(Note 1) (Note 4)Long-term borrowing ratio(excluding the long-term borrowings
to be repaid and investment
corporation bonds to be redeemedwithin one year) (Note 2) (Note 4)
Fixed interest ratio(Note 3) (Note 4)

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Change(point)

(Note 1) Long-term borrowing ratio is the ratio of the outstanding long-term borrowings (including the long-termborrowings to be repaid within one year) and investment corporation bonds (including the investment corporation
bonds to be redeemed within one year) to the total of outstanding interest-bearing debt.
(Note 2) Long-term borrowing ratio (excluding the long-term borrowings to be repaid and investment corporation bonds
to be redeemed within one year) is the ratio of the outstanding long-term borrowings (excluding the long-termborrowings to be repaid within one year) and investment corporation bonds (excluding the investment corporation
bonds to be redeemed within one year) to the total of outstanding interest-bearing debt.
(Note 3) Fixed interest ratio is the ratio of the total of outstanding interest-bearing debt with fixed interest rates to the totalof outstanding interest-bearing debt. The total of outstanding interest-bearing debt with fixed interest rates
includes debts whose interest rates were converted into fixed interest rates by interest rate swap agreements.
(Note 4) Figures are rounded to the first decimal place.

Ⅳ．Other
Regarding the risks related to the repayment of the Borrowings, there are no significant changes in the“Investment Risk” section of the securities report submitted on August 24, 2020.

*Website of API: https://www.activia-reit.co.jp/en/

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