Translation of Japanese Original
September 25, 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 177) 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 2,700 million yen) and the execution of interest rate
swap agreements.
Please see below for the details.
1. Outline of Debt Financing
Contract
Date

Drawdown
Date

Principal
Repayment
Date (Note 1)

SeriesLenderAmountInterest Rate
(Note 1) (Note 2)

177-A

Sumitomo Mitsui
Trust Bank, Limited

1,000
millionyen

Base rate(JPY TIBOR
for 3 months)+0.35000%

September 30,
2025

177-B

Sumitomo Mitsui
Trust Bank, Limited

1,000
millionyen

Base rate(JPY TIBOR
for 3 months)+0.45000%

September 28, September 30, September 30,
2020
2020
2027

177-CSumitomo Mitsui
Trust Bank, Limited

700
millionyen

Base rate(JPY TIBORfor 3 months)+0.60000%

September 30,
2030

Collateral ・Repayment
MethodUnsecured,unguaranteed・Repaymentof principal
in full on
maturity date

Note 1: The first interest payment is due at the end of December 2020, 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 theprincipal 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 shall be calculated based onJapanese Yen TIBOR for 3 months, 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 177 is to apply the fund towards the repayment of Series 108 (2,700 million yen) with the principal repayment
date of September 30,2020.
3. Interest Rate Swap Agreements(1)Purpose
For a hedge against possible increases in future interest rate.

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(2)Details of Interest Rate Swap Agreements
Series177-A

Counterparty

177-C

To be determined and announced upon determination

Notional AmountInterest
Rate

177-C

Fixed Interest Rate for
Payment (Note)

1,000 million yen

1,000 million yen

700 million yen

To be determined andannounced upondetermination

To be determined andannounced upondetermination

To be determined andannounced upondetermination

Floating Interest Ratefor Receipt

Base rate (JPY TIBOR for 3 months)

Commencement Date
Termination Date

September 30, 2020
September 30, 2025

September 30, 2027

September 30, 2030

The first payment is due at the end of December 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

4. Status of Borrowings and Investment Corporation Bonds after the Debt Financing (as of September 30, 2020)(Millions of yen)

Short-Term Borrowings (Note 1)

Balance before
the Debt Financing
13,500

Balance after
the Debt Financing
13,500Long-Term Borrowings (Note 2)Classification

Difference
0178,250

178,2500Total Borrowings

191,750

191,7500Investment Corporation Bonds

10,00010,0000201,750

201,7500Total Borrowings and Investment Corporation Bonds

Note 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. 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 30, 2020).
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 September 25, 2020. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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