Make The World
More Sustainable[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

April 22, 2021
IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
www.ichigo-office.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Norio Nagamine, Head of Ichigo OfficeTel: +81-3-3502-4891

Bond IssuancePursuant to its board resolution on May 28, 2019, Ichigo Office today decided to issue
JPY 1.5 billion of bonds in order to diversify its funding, extend its debt maturity, andlower its borrowing costs.
1. Bond Details
Name
Total Issue AmountForm of Bond Certificate
Issue Price
Redemption Price
Interest Rate
Bond Denomination Amount
Offering Method
Subscription Period
Payment Date
Collateralized
Redemption Date and Method

Interest Payment Date

Credit Rating

Ichigo Office Sixth Unsecured Investment
Corporation Bonds (ranking pari passu among
Ichigo Office investment corporation bonds)
JPY 1.5 billion
Pursuant to the Act on Book Entry of Corporate
Bonds and Shares, bond certificates will not beissued.
Par (JPY 100)
Par (JPY 100)0.850% p.a.
JPY 100 million
Public Offering
April 22, 2021
May 6, 2021
NoLump sum redemption on May 2, 2031.
The bonds may be purchased and cancelled at any
time on and after the date following the payment
date unless otherwise stipulated by the depository.
May 6 and November 6 every year and theredemption date (the first payment date will beNovember 6, 2021). If a payment date is not abusiness day, payment shall be made on theprevious business day.
A (JCR, Japan Credit Rating Agency)
1

Financial Covenants
Depository
Fiscal, Issuing, and Paying Agent
Underwriters

Negative pledge
Japan Securities Depository Center
MUFG BankSMBC Nikko Securities
Mizuho Securities
MUFG Morgan Stanley Securities

2. Reason for Bond Issuance
To diversify Ichigo Office’s funding, extend its debt maturity, and lower its borrowingcosts.
3. Total Amount to be Raised and Use and Timing of Proceedsa. Amount of Estimated Net Proceeds
JPY 1,486 million
b. Use of Proceeds and Scheduled Expenditure Date
The proceeds will be used to repay the loan due May 7, 2021 (JPY 9,139 million), andwill be retained as cash until then.
4. Outstanding Loan and Bond Balance (as of May 6, 2021)(JPY million)
BeforeBond Issuance
(A)

After
Bond Issuance(B)

Short-term bank loans–––

Long-term bank loans

105,896

105,896–

Total bank loans

105,896

105,896

–

5,400

6,900

+1,500111,296

112,796+1,500

Bonds
Total bank loans and bonds

Change(B) - (A)

5. OtherRisks related to this bond issuance remain unchanged from the “Investment Risks”
described in the latest Financial Report submitted on January 28, 2021.

2

Distribution of Loan and Bond Maturities (as of May 6, 2021)■ Bank Loans (floating rate)
9,639 9,629

9,633■ Bank Loans (fixed rate)■ Bonds■ New Bonds(JPY million)

9,623

8,908 9,056

8,846
7,647

7,346

4,600

1,000
6,346

1,000

7,266

7,953

1,200

7,767

7,856

7,246
5,4943,527
2,900
3,047

0
2,000 1,756
900

Oct
2021

Apr
2022

Oct
2022

Apr2023

Oct
2023

Apr
2024

955

600
Oct
2024

Apr2025

Oct
2025

Apr
2026

1,500

1,200

1,000

Oct
2026

3

Apr2027

Oct
2027

Apr
2028

Oct
2028

Apr
2029

Oct
2029

Apr
2030

Oct
2030

Apr
2031

Oct2031