July 3, 2019
FOR IMMEDIATE RELEASE
Activia Properties Inc.
1-1 Minami-Aoyama 1-chome, Minato-ku, Tokyo
Kazuyuki Murayama
Executive Director(Code: 3279)
Asset Management Company
TLC REIT Management Inc.
Hiroyuki Tohmata
President & CEOInquiries
Kazuyuki Murayama
General Manager of Strategy Department
Activia Management Division(Tel: +81-3-6804-5671)

Notice Concerning Partial Early Repayment of Funds
Activia Properties Inc. (“API”) announces today that it has decided to make partial early repayments offunds (the “Early Repayments”). Details are as follows.
1．Early repayments of funds(1) Details of the funds to be repaid
Loan
amountafter early
repayment

LenderLoanamountRepayment
amountSumitomo Mitsui Trust Bank, Limited
Mizuho Bank, Ltd.
MUFG Bank, Ltd.

4 billionyen

4 billion
yen-Sumitomo Mitsui Trust Bank, Limited
Mizuho Bank, Ltd.
MUFG Bank, Ltd.

5 billionyen

1 billionyen

4 billion
yen

Interest rate
0.13% +
Base rate(floatingrate)
0.13% +
Base rate(floatingrate)

Drawdown
date

Due date

Scheduleddate ofearly
repayment

April 24,2019

November24, 2019

July 18,2019

June 3,2019

June 3,2020

July 18,2019(Note 1) Break-funding costs upon the Early Repayments will occur. However, the impact of these costs on API is minimal.
(Note 2) For details of each borrowing above, please refer to the “Notice Concerning Borrowing of Funds” announced on April 19, 2019
and the “Notice Concerning Borrowings of Funds” announced on May 28, 2019, respectively.

(2) Funds for repayments
All of the net proceeds from the issuance of the 10th unsecured investment corporation bonds (green bonds)(with pari passu conditions among specified investment corporation bonds) (the “Investment CorporationBonds”) which will be paid on July 9, 2019, and cash on hand will be applied. For further details, please referto the “Notice Concerning Issuance of Investment Corporation Bonds (Green Bonds)” announced as of today.

12．Status of borrowings, etc. after the Early Repayments(1) Interest-bearing debt after the Early Repayments(In millions of yen)
Before the Early
Repayments(As of July 3, 2019)

After the Early
Repayments(As of July 18, 2019)

14,0009,000(5,000)

12,00010,300(1,700)

194,350

196,050

1,700

220,350215,350(5,000)Investment corporation bonds
to be redeemed within one year

6,000

6,0000Investment corporation bonds

8,000

13,0005,000

234,350

234,3500

Short-term borrowings(Note 2)Long-term borrowings
to be repaid within one year

Change(Note 1)

(Note 2)Long-term borrowings(Note 2)

Total amount of borrowings(Note 2)

Total amount of borrowings andinvestment corporation bonds(Note 1)

The figures are based on assumption that the Investment Corporation Bonds (5 billion yen) will be issued on July 9, 2019.

(Note 2)

Short-term borrowings refer to borrowings with a maturity period of one year or less, and long-term borrowings refer toborrowings with a maturity period of more than one year. Investment corporation bonds of 5 billion yen will be issued as ofJuly 9, 2019, an early repayment of 4 billion yen and a partial early repayment of 1 billion yen will be executed as of July 18,
2019, as stated in “3. Amount of funds to be raised, use of proceeds and scheduled timing of expenditure”. As a result, theamount of short-term borrowings will decrease by 5 billion yen and the amount of investment corporation bonds will increaseby 5 billion yen. In addition, a long-term borrowing due within one year will be repaid, to the same extent as the amount of,and simultaneously with, a long-term borrowing scheduled to be made as of July 9, 2019. As a result, the amount of long-termborrowings to be repaid within one year will decrease by 1.7 billion yen and the amount of long-term borrowings will increaseby 1.7 billion yen. For details of the said borrowing, please refer to the “Notice Concerning Borrowings of Funds” announcedon June 20, 2019. Consequently, the amount of short-term borrowings will decrease by 5 billion yen, the amount of long-termborrowings to be repaid within one year will decrease by 1.7 billion yen, the amount of long-term borrowings will increase by
1.7 billion yen, and the amount of investment corporation bonds will increase by 5 billion yen, after the issuance as shown on
the above table.

(2) Basic financing information after the Early Repayments
Before the Early
Repayments(As of July 3, 2019)

After the Early
Repayments(As of July 18, 2019)

94.0%

96.2%2.1

86.3%

89.2%

2.9

89.0%

91.1%

2.1

Long-term borrowing ratio(Note 2) (Note 5)Long-term borrowing ratio(excluding the long-term borrowings
to be repaid and investment
corporation bonds to be redeemedwithin one year)(Note 3) (Note 5)
Fixed interest ratio(Note 4) (Note 5)(Note 1)
(Note 2)

Change(point)(Note 1)

The figures are based on assumption that the Investment Corporation Bonds (5 billion yen) will be issued on July 9, 2019.
Long-term borrowing ratio is the ratio of the outstanding long-term borrowings (including the portion of long-term borrowings
to be repaid within one year) and investment corporation bonds (including the investment corporation bonds to be redeemedwithin one year) to the total of outstanding interest-bearing debt.

2

(Note 3)Long-term borrowing ratio (excluding the long-term borrowings to be repaid and investment corporation bonds to be redeemedwithin one year) is the ratio of the outstanding long-term borrowings (excluding the long-term borrowings to be repaid withinone year) and investment corporation bonds (excluding the investment corporation bonds to be redeemed within one year) to thetotal of outstanding interest-bearing debt.

(Note 4)

Fixed interest ratio is the ratio of the total of outstanding interest-bearing debt with fixed interest rates to the total of outstanding
interest-bearing debt. The total of outstanding interest-bearing debt with fixed interest rates includes debts whose interest rates
were converted into fixed interest rates by interest rate swap agreements.

(Note 5) Figures are rounded to the first decimal place.

3．Other
Regarding the risks related to the early repayments of funds, there are no significant changes in the“Investment Risk” section of the securities report submitted on February 26, 2019.

*Website of API: https://www.activia-reit.co.jp/en/3