Creating peace of mind through honest and committed management.

[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

April 27, 2015
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Hiroto Tajitsu, Head of Administration
Tel: 03-3502-4891

New Loan and Repayment of Existing Loan
Ichigo Real Estate Investment Corporation (“Ichigo REIT”) today has decided to borrow funds
via a new loan and repay an existing loan.
1. Reason for New Loan
In the current Stage IV Increase Size & Scale (November 2014 – October 2015) of its multi-year
growth strategy, Ichigo REIT is strengthening its lender base to obtain a credit rating andborrow funds on a non-collateralized basis.
This new loan will further lower Ichigo REIT’s borrowing cost, lengthen as well as diversify
loan maturity, and strengthen its lender base.
2. Loan Details
SMBC Syndicate Loan I (Term Loan 5)
Lenders

Loan Amount
Use of Proceeds
Loan Date
Principal Repayment Date
Principal Repayment Terms

Partial Repayment Date

Interest Rate

Sumitomo Mitsui Banking Corporation; Mizuho
Trust & Banking Co., Ltd.; Aozora Bank, Ltd.;
Shinsei Bank, Limited; Resona Bank, Ltd.
4,985,500,000 million yen
Repayment of existing loan
April 30, 2015 (Expected)
April 30, 20181
2,492,750 yen of the principal will be repaid on
each Partial Principal Repayment Date; theremainder will be repaid in full on the Principal
Repayment Date.
Final business day of January, April, July, andOctober following the Loan Date (the firstpayment date will be July 31, 2015 and the lastpayment date will be the same as the Principal
Repayment Date)
1M JPY TIBOR + 0.75 % (p.a.)2

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Interest Payment Date

Collateralized

Final business day of each month following theLoan Date (the first payment date will be May31, 2015 and the last payment date will be thesame as the Principal Repayment Date)
Yes

1

In the event the date is not a business day, repayment shall be made on the following
business day.
2
The interest rate from April 30, 2015 to May 28, 2015 will be 0.88000%. The interest
rate following that period will be announced as soon as it has been decided.

3. Loan Repayment Details
SMBC & Mizuho Trust Bank Syndicate Loan I (Term Loan 1)
Lenders

Initial Loan AmountCurrent Outstanding Amount
Outstanding Amount after Repayment
Loan Execution Date
Repayment Execution Date
Interest Rate
Collateralized

Sumitomo Mitsui Banking Corporation; Mizuho
Trust & Banking Co., Ltd.; Aozora Bank, Ltd.;
Shinsei Bank, Limited; Resona Bank, Ltd.
5,497,000,000 yen
4,992,375,000 yen (As of April 30, 2015)
NoneMay 9, 2012
April 30, 2015
3M JPY TIBOR + 1.10 % (p.a.)Yes2

4. Outstanding Loan Balance(million yen)1

Before execution

After execution(as of May 7,Change2015)
Short-term borrowings

000

Long-term borrowings(due within one year)

11,1756,070- 5,105

Long-term borrowings

48,47676,01027,534

Total borrowings

59,651

82,08022,42800059,65182,080

22,428000

59,651

82,08022,428Investment corporation bonds
Total borrowings and investment
corporation bonds
Other interest-bearing
liabilities
Total interest-bearing
liabilities

1 These figures assume that all loans are executed and all refinancing announced in today’s release“Notice of New Loans, Interest Rate Swap, and Repayment of Existing Loan” are completed.

5. Future Outlook
There is no amendment to Ichigo REIT’s earnings and dividend forecast as announced in“Earnings and Dividend Forecast Revisions for the April 2015 and October 2015 Fiscal Periods”
on April 9, 2015.
6. OtherRisks related to this loan have no material impact on the “Investment Risks” described in thelatest Securities Report submitted April 9, 2015.

Website of Ichigo REIT: www.ichigo-reit.co.jp/english

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