November 13, 2020
For Translation Purposes Only
Real Estate Investment Fund Issuer:
Mori Hills REIT Investment Corporation(Securities Code: 3234)
1-12-32 Akasaka, Minato-ku, Tokyo
Hideyuki Isobe, Executive Director
Asset Manager:
Mori Building Investment Management Co., Ltd.
Hideyuki Isobe, President & CEO
Inquiries: Akira Nemoto
General Manager, Financial Department
TEL: +81-3-6234-3234

MHR Announces Issuance of Investment Corporation Bond (Green Bond)
Mori Hills REIT Investment Corporation (hereinafter “MHR”) hereby announces that it decided toissue investment corporation bond (green bond) as below.
1. Overview of Investment Corporation Bond
(1) Name of investment corporation bond
MHR Twentieth Series Unsecured Investment Corporation Bond (subject to a limited paripassu clause between specified investment corporation bonds) (green bond) (hereinafter,“Investment Corporation Bond”).
(2) Total issue amount of the investment corporation bond
3.5 billion yen(3) Certificates
The stipulation of the Act on Book Entry of Corporate Bonds and Shares will be applied tothe Investment Corporation Bond. Thus, investment corporation bond certificates will not
be issued for the Investment Corporation Bond.
(4) Payment price
100 yen per face value of 100 yen for each investment corporation bond(5) Redemption price
100 yen per face value of 100 yen for each investment corporation bond(6) Interest rate
0.250% per annum(7) Investment corporation bond amount
100 million yen per investment corporation bond(8) Offering method
Primary offering(9) Subscription period
November 13, 20201(10) Payment dateNovember 25, 2020(11) Collateral and guarantee
The Investment Corporation Bond is unsecured and unguaranteed. Furthermore, there isno particular asset retained for the Investment Corporation Bond.
(12) Redemption method and maturity
The total amount of the Investment Corporation Bond will be redeemed on November 25,2025.
Redemption by purchase of Investment Corporation Bond by MHR is allowed at any time
starting on the day following the payment date, unless otherwise specified by the book-entry
transfer institution mentioned under (16) below.
(13) Interest payment date
The first payment date will be May 25, 2021, and thereafter on May 25 and November 25of each year.
(If the interest payment date is a bank holiday, then the bank business day preceding it
shall be deemed as the interest payment date.)(14) Special financial condition
Negative pledge clause is applicable.
(15) Credit rating
Japan Credit Rating Agency, Ltd.: AA(16) Book-entry transfer institution
Japan Securities Depository Center, Inc.
(17) Fiscal agent, issuing agent and paying agent
The Norinchukin Bank
(18) Underwriting securities companies
SMBC Nikko Securities Inc. (the green bond structuring agent) (Note)
Daiwa Securities Co., Ltd.
Mizuho Securities Co., Ltd.
(Note) A green bond structuring agent supports the issuance of green bonds by advising issuers on theformulation of a green bond framework and obtaining a second-party opinion.

2. Reason for IssuanceIn order to promote the environmental initiatives and contribute to the realization of asustainable society, MHR decided to issue the Investment Corporation Bond to procure
investment funds for projects that are conscious of the environment.
The Investment Corporation Bond is issued based on “Structure of MHR’s Green Bonds”
described in the press release “MHR Announces Submission of Revised Shelf Registration
Statement for Issuance of Green Bonds” dated on October 29, 2020.

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3. Amount of Funds to be Procured, Use of Funds and Planned Expenditure Period(1) Amount of funds to be procured (estimated paid-in amount): 3,478 million yen(2) Specific use of funds to be procured and planned expenditure period
It will be allocated to part of funds for redemption of MHR Fifteenth Series Unsecured
Investment Corporation Bond (hereinafter, “Existing Investment Corporation Bond”) of
3,500 million yen with the redemption date arriving on November 26, 2020.
Furthermore, the Existing Investment Corporation Bond was procured as a fund for
repayment of borrowings for the acquisition of ARK Mori Building (including funds
procured through subsequent refinancing), which falls under assets that meet the eligibility
criteria described in the press release “MHR Announces Submission of Revised Shelf
Registration Statement for Issuance of Green Bonds” dated October 29, 2020.
4. Investors Who Declared Intention to Investment in the Investment Corporation Bond
Listed below in Japanese syllabary order are investors to date who declared their intention ofinvestment in the Investment Corporation Bond and agreed to disclose their names.
・Suwa Shinkin Bank・The Toa Reinsurance Company, Limited・Real Estate Guarantee Co., Ltd.
・Sumitomo Mitsui Trust Asset Management Co., Ltd.
・Meiji Yasuda Asset Management Company Ltd.

5. Borrowings, etc. after the Issuance of Investment Corporation Bond
(unit: millions of yen)
Before the Issuance

After the Issuance

ChangeLong-term loans payable

167,422

167,4220Investment corporation bonds

17,00017,0000Total interest-bearing debt

184,422

184,4220(Note 1) Indicates the borrowings, etc. as of November 26, 2020 after the issuance of the Investment
Corporation Bonds (after redemption of the Existing Investment Corporation Bond mentioned under
3. (2) above).
(Note 2) Long-term loans payable and investment corporation bonds include the current portion of long-termloans payable within a year and investment corporation bonds.

6. Other Items Required for Investors to Appropriately Understand/Judge the ConcernedInformation
As for risks regarding redemption of Investment Corporation Bond, etc. there are no materialchanges from the content of the investment risks indicated in the Semiannual Securities
Report (Japanese) for the twenty-eighth fiscal period (ended July 31, 2020) submitted onOctober 28, 2020.
MHR’s website: https://www.mori-hills-reit.co.jp/en/

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