April 19, 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 Borrowing of Funds
Activia Properties Inc. (“API”) announces today that it decided to borrow funds (the “Borrowing”).
Details are as follows:1.

Details of the Borrowing< Short-term borrowing >Borrowing andrepayment
InterestDrawdown
Due date
LenderLoan amountmethods,ratedate (plan)(Note 1)security, andguarantee
Borrowing basedon a borrowing
agreement withthe lenders
Sumitomo Mitsui Trust Bank, Limited
0.13%
November
April 24,
shown at left as
Mizuho Bank, Ltd.
4 billion yen+Base rate24,
2019
the creditor,
MUFG Bank, Ltd.
(Note 2)2019
lump-sum
repayment,unsecured, andunguaranteed(Note 1) If the due date is a non-business day, it shall be the following business day. If such day falls in the following month,it shall be the immediately preceding business day.
(Note 2) The interest payment will be made on the last day of May 2019 and the last day of each month thereafter as well ason the due date of the principal. (If the interest payment date is a non-business day, it shall be the following businessday. If such day falls in the following month, it shall be the immediately preceding business day.)The base rate applicable to the period for the calculation of the interest payable on an interest payment date is theJBA one-month Japanese Yen TIBOR as of a date two business days prior to the interest payment date immediately
preceding each interest payment date. However, if the base rate applicable to the calculation period doesn’t exist, thebase rate will be the one corresponding to the period that will be calculated based on a method provided in theagreement.
After this, API will not announce the interest rate decisions for the Borrowing. For changes in the JBA Japanese Yen
TIBOR, the base rate, please check the website of the JBA TIBOR Administration (http://www.jbatibor.or.jp/english).

12.

Reasons for the Borrowing

API will use the Borrowing to redeem the Investment Corporation 1st unsecured bonds of 4 billion yen
which becomes mature on April 25, 2019 (the “Existing Investment Corporation Bonds”). For the detailsof the Existing Investment Corporation Bonds, please refer to “Notice Concerning Issuance of Investment
Corporation Bonds” released on April 17, 2014.
3.

Amount, use and schedule of disbursement of funds to be raised(1) Total amount
4 billion yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Investment Corporation Bonds(3) Scheduled date of disbursement
April 25, 20194.

Status of borrowings payable, etc. after the Borrowing(1)

Interest-bearing debt balance after the Borrowing(In millions of yen)
Beforethe Borrowing(As of April 19,2019)
Short-term borrowings(Note)

Total amount of borrowings

Change14,10018,1004,000

20,40020,4000181,850

181,850

0216,350

220,350

4,000

8,000

6,000(2,000)

10,0008,000(2,000)234,350

234,3500000

234,350

234,3500(Note)

Long-term borrowings
to be repaid within one year
Long-term borrowings

Afterthe Borrowing(As of April 25,2019)

Investment corporation bonds
to be redeemed within one year
(Note)

Investment corporation bonds(Note)

Total amount of borrowings andinvestment corporation bonds
Other interest-bearing debt
Total interest-bearing debt

(Note) Short-term borrowings refer to borrowings with a maturity period of one year or less, and long-term borrowings refer
to borrowings with a maturity period of more than one year. On the next day of the Borrowing, Investment corporation
bonds due within one year will be redeemed to the same extent as the amount of the Borrowing. As a result, theamount of the investment corporation bonds due within one year will decrease by 4 billion yen and the amount ofshort-term borrowings will increase by 4 billion yen. Meanwhile, since the maturity period for a long-term borrowingof 2 billion yen with a due date of April 21, 2020 will become less than one year, the amount of investment corporation
bonds due within one year will increase by 2 billion yen and the amount of investment corporation bonds will decreaseby 2 billion yen. Consequently, the amount of short-term borrowings will increase by 4 billion yen, the amount ofinvestment corporation bonds due within one year will decrease by 2 billion yen, and the amount of investment
corporation bonds will decrease by 2 billion yen, after the Borrowing as shown on the above table.

2(2)Basic financing information after the Borrowing
BeforeAfterthe Borrowing
the Borrowing(As of April 19, 2019) (As of April 25,2019)
Long-term borrowing ratio(Note 1) (Note 4)Long-term borrowing ratio(excluding the long-term borrowings
to be repaid and investment
corporation bonds to be redeemedwithin one year) (Note 2) (Note 4)
Fixed interest ratio

Change(point)

94.0%

92.3%

(1.7)

81.9%

81.0%

(0.9)

89.0%

87.2%

(1.7)

(Note 3) (Note 4)(Note 1) Long-term borrowing ratio is the ratio of the outstanding long-term borrowings (including the portion of longterm borrowings to be repaid within one year) and the investment corporation bonds (including the investment
corporation bonds to be redeemed within one year) to the total of outstanding interest-bearing debt.
(Note 2) Long-term borrowing ratio (excluding the long-term borrowings to be repaid and investment corporation bonds
to be redeemed within one year) is the ratio of the outstanding long-term borrowings (excluding the long-termborrowings to be repaid within one year) and investment corporation bonds (excluding the investment corporation
bonds to be redeemed within one year) to the total of outstanding interest-bearing debt.
(Note 3) Fixed interest ratio is the ratio of the total of outstanding interest-bearing debt with fixed interest rates to the totalof 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 4) Figures are rounded to the first decimal place.

5.

OtherRegarding the risks related to the repayment of the Borrowing, 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