Translation of Japanese Original
October 23, 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 178) and
Execution of Interest Rate Swap Agreements

Kenedix Office Investment Corporation (“the Investment Corporation”) has announced today, that the Investment
Corporation decided to undertake the debt financing (total of 3,200 million yen) and the execution of interest rate
swap agreements.
Please see below for the details.
1. Outline of Debt Financing
SeriesLenderAmountInterest Rate
(Note 1) (Note 2)

178-A

Sumitomo Mitsui
Banking Corporation

1,400
millionyen

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

Sumitomo Mitsui
Banking Corporation

1,500
millionyen

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

300
millionyen

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

178-B
Resona Bank, Limited

Contract
Date

Drawdown
Date

Principal
Repayment
Date (Note 1)

Collateral ・Repayment
MethodApril 30,2027

October 28,
2020

October 30,
2020
October 31,
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 beapplied.
Note 2: The base rates that are applied during interest period for the interest due on each interest payment date shall be calculated based onJapanese 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 178-A(1,400 million yen) and a portion of Series 178-B(1,500 million yen) are to apply the fund towards therepayment of Series 100 (2,900 million yen) with the principal repayment date of October 30,2020.
The other portion of Series 178-B(300 million yen) is to apply the fund towards the repayment of Series 104-D (300million yen) with the principal repayment date of October 30,2020.

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3. Interest Rate Swap Agreements(1)Purpose
For a hedge against possible increases in future interest rate.
(2)Details of Interest Rate Swap Agreements
Series178-A

Counterparty

To be determined and announced upon determination

Notional AmountInterestRate

178-B

1,400 million yen

Fixed Interest Rate forPayment
Floating Interest Ratefor Receipt

300 million yen

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

Commencement Date
Termination Date

1,500 million yen

October 30, 2020
April 30, 2027

October 31, 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. Status of Borrowings and Investment Corporation Bonds after the Debt Financing and the Prepayment（Note 1） (as of October 30, 2020)(Millions of yen)

Short-Term Borrowings (Note 2)

Balance before
the Debt Financing andthe Prepayment
13,500

Balance after
the Debt Financing andthe Prepayment
12,500Long-Term Borrowings (Note 3)Classification

Difference-1,000178,250

178,2500Total Borrowings

191,750

190,750-1,000Investment Corporation Bonds

11,00011,0000202,750

201,750-1,000Total Borrowings and Investment Corporation Bonds

Note 1: For details on the prepayment, please refer to the press release, “Notice Concerning Partial Prepayment of Borrowing (Series 172-A)”
dated today.
Note 2: Short-term borrowings refer to debt financing with a period less than or equal to one year from the drawdown date to the principal
repayment 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 3: Long-term borrowings refer to debt financing with a period more than one year from the drawdown date to the principal repayment date.

5. 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 October 23, 2020. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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