Ichigo Preserves and Improves Real Estate

December 1, 2016
IssuerIchigo Green Infrastructure Investment Corporation (9282)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Mami Nagasaki, Executive Director
http://www.ichigo-green.co.jp/

Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Wataru Orii, President
Inquiries: Hiroto Tajitsu, Head of Business Administration
Tel: +81-3-3502-4854

New Loans and Interest Rate Swap
Ichigo Green Infrastructure Investment Corporation (“Ichigo Green”) decided today toborrow funds via new loans and is entering into an interest rate swap agreement to fix
and lock-in the low interest rate on one of the loans.
1. Reason for New Loans
Ichigo Green is acquiring thirteen solar power plants today, for a total acquisition
price of JPY 10,018 million and as described in today's release “Acquisition ofThirteen Solar Power Plants,” and the new loans will be used to finance part of theseacquisitions and related expenses.
2. Loan Details
Term Loan I
LenderLoan Amount
Loan Date
Loan Maturity Date
Principal Repayment Terms
Interest Rate
Interest Payment Date

Collateralized

Mizuho Bank, SMBC
JPY 6,192 million
December 1, 2016
November 30, 20261
Principal will be partially repaid on each Interest
Payment Date, with the residual balance paid in fullon the Loan Maturity Date
6M JPY TIBOR + 0.50% (p.a.)2
Final day of June and December following
the Loan Date (the first payment date will beDecember 30, 2016 and the last payment date will be
the same as the Loan Maturity Date)1
No

Disclaimer: This translation is for informational purposes only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding new loans and interest rate swap by Ichigo Green, and has notbeen prepared for the purpose of solicitation of investment.

1Consumption Tax Loan I3
LenderLoan Amount
Loan Date
Principal Repayment Date
Principal Repayment Terms
Interest Rate
Interest Payment Date

Collateralized

Mizuho Bank, SMBC
JPY 760 million
December 1, 2016
November 30, 20171
Repayment will be made in full on the Principal
Repayment Date
1M JPY TIBOR + 0.20% (p.a.)2
Final day of each month following the LoanDate (the first payment date will be December 30,
2016 and the last payment date will be the same as
the Principal Repayment Date)1
No

1

In the event the date is not a business day, repayment shall be made on the following
business day. If the following business day falls into the next month, then therepayment shall be made on the previous business day.
2From December 1, 2016 until December 29, 2016, the interest rate of Term Loan I is0.52613%, and the interest rate of Consumption Tax Loan I is 0.22613%.
3Consumption Tax Loan is a type of loan in which early repayment of the principal
will be made in the event that Ichigo Green receives a tax refund on theconsumption and regional consumption taxes it pays with respect to the acquisitionof the thirteen solar power plants.

3. Interest Rate Swap(a) Reason
To fix the interest payment amount of Term Loan I and hedge against a rise ininterest rates.
(b) Swap Details
Term Loan I
Counterparty
Notional Principal
Interest Rate
Commencement Date
Termination Date
Interest Payment DateSMBC
JPY 6,192 million1
Fixed Interest Rate to be Paid: 0.76000%2
Floating Interest Rate to be Received:
6M JPY TIBOR + 0.50% (p.a.)3
December 1, 2016
November 30, 20263
Final day of June and December following the Loan
Date (the first payment date will be December 30,
2016 and the last payment date will be the same asthe Termination Date)3Disclaimer: This translation is for informational purposes only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding new loans and interest rate swap by Ichigo Green, and has notbeen prepared for the purpose of solicitation of investment.

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1

The notional principal above is as of the commencement date of the interest rateswap. The notional principal at each interest payment date is equal to the notional
principal at commencement date minus the accumulated interest paid until eachinterest payment date. For Term Loan I, the decrease in the notional principal isequal to accumulated partial repayments.
2
As a result of the interest rate swap, the interest rate for Term Loan I is fixed at0.76000%.
3
In the event the date is not a business day, then the following business day will beused. If the following business day falls into the next month, then the previous
business day will be used.
4. Outstanding Loan Balance (as of December 1, 2016)(million yen)
Before Today’s
Transactions(A)

After Today’sTransactions(B)

Short-term borrowings

0760

+760

Long-term borrowings(due within one year)

093+93Long-term borrowings

06,098+6,098

Total borrowings

06,952+6,952

Investment corporation bonds

000

Total of borrowings andinvestment corporation bonds

06,952+6,952

Other interest-bearing liabilities

000

Total interest-bearing liabilities

06,952+6,952

Change(B) - (A)

5. OtherRisks related to this loan and the interest rate swap have no material impact on the“Investment Risks” described in the latest Securities Report submitted October 24,
2016.

* Distribution of this material: the Kabuto Club, the press club of the Ministry of Land,
Infrastructure, Transport, and Tourism, and the press club for construction industry
newspapers at the Ministry of Land, Infrastructure, Transport, and Tourism.
* The website of Ichigo Green is scheduled for launch later today.

Disclaimer: This translation is for informational purposes only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding new loans and interest rate swap by Ichigo Green, and has notbeen prepared for the purpose of solicitation of investment.

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