Translation of Japanese Original
November 6, 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 179) and Execution of Interest Rate Swap Agreements
and Prepayment of Borrowing (Series 174-A)

Kenedix Office Investment Corporation (“the Investment Corporation”) has announced today, that the Investment
Corporation decided to undertake the debt financing (total of 2,500 million yen) and the execution of interest rate swap
agreements and prepayment of borrowing.
Please see below for the details.
1. Outline of Debt Financing
SeriesLenderAmountInterest Rate
(Note 1) (Note 2)

179-A

MUFG Bank, Ltd.

1,300
millionyen

Base rate(JPY TIBOR
for 3 months)+0.42500%

MUFG Bank, Ltd.

700
millionyen

179-B
Aozora Bank, Ltd.

500
millionyen

Base rate(JPY TIBOR
for 3 months)+0.60000%

Contract
Date

Drawdown
DatePrincipal
Repayment
Date (Note 1)

Collateral ・Repayment
MethodApril 30,2027

November 10, November 12,
2020
2020
November 12,
2030

Unsecured,
unguaranteed
・Repaymentof principal
in full on
maturity date

Note 1: The first interest payment is due at the end of January 2021, 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 shall be calculated based on Japanese
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 179 is to apply the fund towards the repayment of Series 91-B (2,500 million yen) with the principal repayment
date of November 12,2020.
3. Interest Rate Swap Agreements(1)Purpose
For a hedge against possible increases in future interest rate.

1(2)Details of Interest Rate Swap Agreements
Series

179-A

Counterparty

To be determined and announced upon determination

Notional Amount

1,300 million yen

Fixed Interest Rate for
Payment
Floating Interest Ratefor Receipt

InterestRate

179-B

700 million yen

500 million yen

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

Commencement Date

November 12, 2020

Termination Date

April 30, 2027

November 12, 2030

The first payment is due at the end of January 2021, 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. Outline of Planned Prepayment of Borrowing
Series

174-ALenderBalance ofBorrowing

Prepayment
AmountBalanceafterPrepayment

Sumitomo
Mitsui
Banking
Corporation

1,000
millionyen

1,000
millionyen-

MUFG Bank,Ltd.

1,000
millionyen

1,000
millionyen-Mizuho Bank,
Ltd.

1,000million
yen

1,000million
yen-Drawdown
Date

Principal
Repayment
Date

PlannedPrepayment
Date

Collateral

June 30,
2020

June 30,
2021

November 30,
2020

Unsecured,
unguaranteed

Note: For outlines of the borrowing, please refer to the press release, “Notice Concerning Debt Financing (Series 174) and Execution of an Interest
Rate Swap Agreement” dated June 26, 2020

5. Fund for Prepayment
Series174-A to be prepaid is borrowing that was financed for the purpose of allocation to the acquisition funds
for Shinbashi M-SQUARE Bright. The prepayment of this borrowing is planned to be funded from a portion ofproceeds of the sale for KDX Shin-Nihonbashi Building (Note) implemented on November 2, 2020.
Note: For details on the sale for KDX Shin-Nihonbashi Building , please refer to the press release, “Notice Concerning Acquisition of Property(Shinbashi M-SQUARE Bright) and Sale of Properties (KDX Nihonbashi Honcho Building, KDX Nihonbashi Edo-dori Building and KDX
Shin-Nihonbashi Building) ” dated June 26, 2020.

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

Short-Term Borrowings (Note 1)

Balance before
the Debt Financing and
the Prepayment
12,500

Balance after
the Debt Financing andthe Prepayment
9,500

Long-Term Borrowings (Note 2)

178,250

178,2500Total Borrowings

190,750

187,750-3,000Investment Corporation Bonds

11,00011,0000201,750

198,750-3,000Classification

Total Borrowings and Investment Corporation Bonds

Difference-3,000Note 1: Short-term borrowings refer to debt financing with a period less than or equal to one year from the drawdown date to the principalrepayment 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.

7. 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, 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 November 6 2020. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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