Translation of Japanese Original

November 22, 2021

To All Concerned Parties

REIT Issuer:
Kenedix Office Investment Corporation
Hiroaki Momoi, Executive Director(Securities Code: 8972)
Asset Management Company:
Kenedix Real Estate Fund Management, Inc.
Masahiko Tajima, President & CEO
Inquiries:
Hiroaki Momoi
Head of Strategic Planning,
Office REIT Department
TEL: +81-3-5157-6010

Notice Concerning Debt Financing (Term Loan 190),
Execution of Interest Rate Swap Agreements and Prepayment of Borrowings etc.

Kenedix Office Investment Corporation (“the Investment Corporation”) has announced today, that the Investment
Corporation decided to undertake the debt financing (total of 14,900 million yen) and the execution of interest rate
swap agreements and prepayment of borrowings.
Please see below for the details.
1. Outline of Debt Financing
Term
LoanLenderAmountSumitomo Mitsui Trust
Bank, Limited

1,250
millionyen

190-A Sumitomo Mitsui Banking
Corporation

500
millionyen

Mizuho Bank, Ltd.

350
millionyen

Mizuho Bank, Ltd.

500
millionyen

Resona Bank, Limited.

500
millionyen

Mizuho Trust & Banking
Co., Ltd.

300
millionyen

MUFG Bank, Ltd.

2,500
millionyen

Daishi Hokuetsu Bank,Ltd.

500
millionyen

190-D The Chugoku Bank, Ltd.

500
millionyen

The Yamaguchi Bank,Ltd.

500
million
yen

190-B

190-C

Interest Rate
(Note 1) (Note 2)

Contract
Date

Drawdown
Date

Base rate(JPY TIBOR
for 1 month)+0.20000%

Base rate(JPY TIBOR
for 3 months)+0.20000%

To be determined(Note 3)(Fixed interest rate)1

Principal
Repayment
Date (Note 1)

Collateral
Repayment
MethodNovember 30,
2022

November 26, November 30,
2021
2021

October 31,
2024

April 30,
2026

Unsecured,
unguaranteed・Repaymentof principal
in full onmaturity dateSumitomo Mitsui Banking
Corporation

500
millionyen

Mizuho Bank, Ltd.

500
millionyen

MUFG Bank, Ltd.

500
millionyen

Aozora Bank, Ltd.

1,000million
yen

Development Bank ofJapan Inc.

500
millionyen

Daiwa Next Bank, Ltd.

500
millionyen

The Shizuoka Bank, Ltd.

500
millionyen

190-H

Shinsei Bank, Limited

1,000million
yen

190-I

The Dai-ichi Life
Insurance Company,Limited

1,000million
yen

190-J

The Norinchukin Bank

1,000million
yen

November 30,
2028

190-K

Sumitomo Life Insurance
Company

500
millionyen

November 30,
2029

190-E

190-F190-GBase rate
(JPY TIBORfor 3 months)+0.30000%

November 30,
2026
November 26, November 30,
2021
2021
To be determined(Note 3)(Fixed interest rate)

Unsecured,
unguaranteed
・Repaymentof principal
in full on
maturity date

Note 1: The first interest payment of Term Loan 190-A is due at the end of December 2021, and on the last day of every 1 month thereafter with theprincipal repayment day. The first interest payment of Term Loan 190-B, 190-C and 190-D is due at the end of January 2022, and on thelast day of every 3 months thereafter with the principal repayment day. The first interest payment of Term Loan 190-E, 190-F, 190-G, 190H, 190-I, 190-J and 190-K is due at the end of February 2022, and on the last day of every 3 months thereafter with 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.
Note 2: The base rates that are applied during interest period for the interest due on each interest payment date for Term Loan 190-A shall becalculated based on Japanese Yen TIBOR for 1 month, for Term Loan 190-B and 190-E shall be calculated based on Japanese Yen TIBOR
for 3 months, which JBA TIBOR Administration (“the JBATA”) releases two business days before each interest payment date. The Japanese
Yen TIBOR of the JBATA is available on the JBATA website (https://www.jbatibor.or.jp/english/rate/).
Note 3: The undecided matters will be announced upon determination.

2. Purpose of Debt Financing and Contents of Borrowings to be Repaid
The above borrowings are to apply the fund towards the repayment of existing borrowings.
The overviews of repayment and prepayment of existing borrowings are as follows:
SeriesLenderBorrowingAmountRepayment
AmountDrawdown
Date

Principal
Repayment
Date

98-C

Development Bank ofJapan Inc.

3,000
millionyen

3,000
millionyen

March 20,
2014

March 20,
2022

114-A

Sumitomo Mitsui Trust
Bank, Limited

1,250
millionyen

1,250
millionyen

Aozora Bank, Ltd.

350
millionyen

350
millionyen

114-B

February 18,
2015

2February 28,
2022

Repayment
Date

Repayment funds
The portions of
190-G, 190-H
and 190-J

November 30,
2021

The portion of
190-A

Aozora Bank, Ltd.

2,300
millionyen

2,300
millionyen

MUFG Bank, Ltd.

2,500
millionyen

2,500
millionyen

Sumitomo Mitsui
Banking Corporation

500
millionyen

500
millionyen

Sumitomo Mitsui
Banking Corporation

500
millionyen

500
millionyen

Sumitomo Mitsui Trust
Bank, Limited

500
millionyen

500
millionyen

186

Mizuho Bank, Ltd.

500
millionyen

500
millionyen

August 31,
2021

188-A

Sumitomo Mitsui
Banking Corporation

500
millionyen

500
millionyen

September 30, September 30,
2021
2022

The portion of
190-G

189

MUFG Bank, Ltd.

3,000million
yen

3,000million
yen

October 29,
2021

190-C and 190-F

119

125-A

180-A

April 30,
2015

April 30,2022

January 29,
2016

January 31,
2022

190-B andthe portion of
190-G
190-D and 190-I

November 30, November 30,
2020
2021

The portion of
190-E
The portion of
190-A

November 30,
2021

190-K
August 31,
2022

October 29,
2022

The portion of
190-E

Note: Please refer to the following for the overviews of debt financing.
Series 98-C
Series 114-A
and 114-B
Series 119:“Notice Concerning Debt Financing (Series 98) and the Execution of Interest Rate Swap Agreements” dated March 18, 2014:

“Notice Concerning Debt Financing (Series 114) and the Execution of Interest Rate Swap Agreements” dated February 16, 2015:

“Notice Concerning Debt Financing (Series 119) and the Execution of an Interest Rate Swap Agreement” dated April 27, 2015

Series 125-A:“Notice Concerning Debt Financing (Series 125) and the Execution of Interest Rate Swap Agreements” dated January 27, 2016
“Notice Concerning Debt Financing (Series 180) and Execution of Interest Rate Swap Agreements” dated November 26, 2020

Series 180-A:

Series 186:“Notice Concerning Debt Financing (Series 186)” dated August 27, 2021

Series 188-A:“Notice Concerning Debt Financing (Series 187 and 188)” dated September 14, 2021

Series 189:“Notice Concerning Debt Financing (Series 189)” dated October 22, 2021

This debt financing will be a syndicated loan with Sumitomo Mitsui Banking Corporation as the lead arranger and agent, MUFG Bank,
Ltd. and Mizuho Bank, Ltd. as the joint arrangers.
In order to further diversify and expand the number of financial institutions, we will take out new loans from Daishi Hokuetsu Bank, Ltd.,The Chugoku Bank, Ltd., The Yamaguchi Bank, Ltd., Daiwa Next Bank, Ltd., The Shizuoka Bank, Ltd., Shinsei Bank, Ltd. and The Daiichi Life Insurance Company, Limited as new lenders. This brings the total number of financial institutions to 24 companies.

3. Interest Rate Swap Agreements(1) Purpose
For a hedge against possible increases in future interest rate on borrowings with floating interest rates (Term Loan
190-B and 190-E).

3(2) Details of Interest Rate Swap Agreements
Term Loan

190-B

Counterparty

To be determined and announced upon determination

Notional AmountInterestRate

190-E

Fixed Interest Rate
for Payment
Floating Interest Ratefor Receipt

500 million
yen

500 million
yen

300 million
yen

500 million
yen

500 million
yen

To be determined and announced upon determination
Base rate (JPY TIBOR for 3 months)

Commencement Date

November 30, 2021

Termination Date

Payment Date (Note)

October 31, 2024

November 30, 2026

The first payment is due at the end of January2022, and on the last day of every 3 months
thereafter with the termination date.

The first payment is due at the end of February2022, and on the last day of every 3 months
thereafter with the termination date.

Note: If each payment day is a non-business day, then the payment 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.

4. Status of Borrowings and Investment Corporation Bonds after the Debt Financing and the Repayment(as of November 30, 2021)(Millions of yen)

Short-Term Borrowings (Note 1)

Balance beforethe Debt Financing andthe Repayment
10,600

Balance afterthe Debt Financing andthe Repayment
7,700

Long-Term Borrowings (Note 2)

175,150

178,050+2,900187,750

185,7500

13,00013,0000

198,750

198,750

0Classification

Total Borrowings
Investment Corporation Bonds
Total Borrowings and Investment Corporation Bonds

Difference-2,900Note 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.

6. Other
For 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 29, 2021).
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 November 22, 2021. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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