Translation of Japanese Original
January 29, 2020
To All Concerned Parties
REIT Issuer:
Kenedix Office Investment Corporation
Jiro Takeda, Executive Director(Securities Code: 8972)
Asset Management Company:
Kenedix Real Estate Fund Management, Inc.
Masahiko Tajima, President & CEO
Inquiries:
Hiroaki Momoi
Head of Planning Division
Office REIT Department
TEL: +81-3-5157-6010

Notice Concerning Debt Financing (Series 170 and 171) and
Execution of Interest Rate Swap Agreements

Kenedix Office Investment Corporation (“the Investment Corporation”) has announced today, that the Investment
Corporation decided to undertake the debt financing (total of 9,700 million yen) and the execution of an interest rate
swap agreements.
Please see below for the details.
1. Outline of Debt Financing
SeriesLenderAmountMUFG Bank, Ltd.

500
millionyen

170-A
Sumitomo Mitsui
Trust Bank, Limited

500
millionyen

Sumitomo Mitsui
Trust Bank, Limited

700
millionyen

170-C

Sumitomo Mitsui
Trust Bank, Limited

1,500
millionyen

170-D

Sumitomo Mitsui
Trust Bank, Limited

1,500
millionyen

Mizuho Bank, Ltd.

4,200
million
yen

170-B

171
Mizuho Trust & BankingCo., Ltd.

800
millionyenInterest Rate(Note 1) (Note 2)Base rate
(JPY TIBOR
for 3 months)+0.25000%
Base rate(JPY TIBOR
for 3 months)+0.25000%
Base rate(JPY TIBOR
for 3 months)+0.35000%
Base rate(JPY TIBOR
for 3 months)+0.45000%
Base rate(JPY TIBOR
for 3 months)+0.55000%
Base rate(JPY TIBOR
for 1 month)+0.20000%
Base rate(JPY TIBOR
for 1 month)+0.20000%

Contract
Date

Drawdown
Date

Principal
Repayment
Date (Note 1)

Collateral ・Repayment
MethodJanuary 31,
2021

January 31,
2025
January 29,
2020

January 31,
2020

January 31,
2027
January 31,2029Unsecured,unguaranteed
・Repaymentof principal
in full on
maturity date

January 31,2021

Note 1: The first interest payment of Series 170 is due at the end of April 2020, and on the last day of every 3 months thereafter with the principal
repayment day. The first interest payment of Series 171 is due at the end of February 2020, and on the last day of every month thereafterwith the principal repayment day. If each interest payment day or the principal repayment day is a non-business day, then the interest
payment or the principal repayment will be due on the next business day and if that next business day is in the next month, then previous
business day will be applied.

1Note 2: The base rates that are applied during interest period for the interest due on each interest payment date for Series170 shall be calculated
based on Japanese Yen TIBOR for 3 months, which the JBA TIBOR Administration (“the JBATA”) releases two business days before
each interest payment date and for Series171 shall be calculated based on Japanese Yen TIBOR for 1 month, which the JBATA releases
two business days before each interest payment date.
The Japanese Yen TIBOR of the JBATA is available on the JBATA website (http://www.jbatibor.or.jp/english/rate/).

2. Purpose of Debt Financing
Series 170-A is to apply the fund towards the repayment of Series 161 (1,000 million yen) with the principal
repayment date of January 31,2020, Series 170-B,170-C and 170-D are to apply the fund towards the repayment ofSeries 96-B (3,700 million yen) with the principal repayment date of January 31,2020, and Series 171 is to apply thefund towards a part of acquisition funds and related costs for Tosabori Prime to be acquired on January 31,2020.
Note: For details of the acquisition, please refer to the press release, “Notice Concerning Acquisition of Property (Tosabori Prime)” dated January 29,
2020.

3. Interest Rate Swap Agreements(1)Purpose
For a hedge against possible increases in future interest rate of the debt financing (Series170-B, Series170-C andSeries170-D).
(2)Details of Interest Rate Swap Agreements
Series

170-B

170-C

Counterparty

Nomura Securities Co.,Ltd.

Notional AmountInterestRate

170-D

Fixed Interest Rate forPayment (Note)
Floating Interest Ratefor Receipt

700 million yen

1,500 million yen

1,500 million yen

0.05600％

0.07600％

0.12500％

Base rate (JPY TIBOR for 3 months)

Commencement Date
Termination Date

January 31, 2020
January 31, 2025

January 31, 2027

January 31, 2029

The first payment is due at the end of April 2020, and on the last day of every 3 months
thereafter with the termination date. (If each payment day is a non-business day, then thepayment will be due on the next business day and if that next business day is in the next
month, then previous business day will be applied. )Payment Date

Note: By entering into the interest rate swap agreements, the interest rates on Series 170-B, 170-C and 170-D are essentially fixed at
0.40600%, 0.52600% and 0.67500%, respectively.

4. Status of Borrowings and Investment Corporation Bonds after the Debt Financing (as of January 31, 2020)(Millions of yen)

Short-Term Borrowings (Note 1)

Balance before
the Debt Financing
1,000

Balance after
the Debt Financing
6,000

Long-Term Borrowings (Note 2)

176,050

176,050

0Total Borrowings

177,050

182,050+5,000Investment Corporation Bonds

10,00010,0000187,050

192,050+5,000Classification

Total Borrowings and Investment Corporation Bonds

Difference+5,000Note 1: Short-term borrowings refer to debt financing with a period less than or equal to one year from the drawdown date to the principal
repayment date. However, the borrowings for which the period until the principal repayment date has surpassed one year because theprincipal repayment date after one year from the drawdown date is not a business day, and for which the principal repayment date has
been moved to a different business day, are included in short-term borrowings.
Note 2: Long-term borrowings refer to debt financing with a period more than one year from the drawdown date to the principal repayment date.

5. OtherFor risks concerning the repayment, etc. of the aforementioned debt financing, there are no significant changes to the“Investment Risks” as described in the Securities Report (submitted on July 30, 2019).

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The Investment Corporation’s website: https://www.kdo-reit.com/en/
This notice is the English translation of the Japanese announcement on our website released on January 29, 2020. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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