Translation of Japanese Original
January 27, 2021
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 181) 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 11,100 million yen) and the execution of interest rate
swap agreements.
Please see below for the details.
1. Outline of Debt Financing
SeriesLenderAmountSumitomo Mitsui Banking
Corporation

1,300
millionyen

181-A
Sumitomo Mitsui
Trust Bank，Limited

500
millionyen
1,000
millionyen

181-B
Mizuho Bank, Ltd.

1,200
million
yen

181-C

181-D

181-E

Sumitomo Mitsui Banking
Corporation

2,300
millionyen

MUFG Bank，Ltd.

2,000
millionyen

Mizuho Bank, Ltd.

2,000
millionyen

Mizuho Trust & Banking
Co. Ltd.

800
millionyen

Interest Rate(Note 1) (Note 2)

Contract
Date

Drawdown
Date

Base rate(JPY TIBOR
for 1 month)+0.30000%
Base rate(JPY TIBOR
for 1 month)+0.25000%
Base rate(JPY TIBOR
for 3 months)+0.25000%
Base rate(JPY TIBOR
for 3 months)+0.45000%

Principal
Repayment
Date (Note 1)

January 29,
2022

January 31,
2024

January 31,
2028
January 27, January 29,
2021
2021

Base rate(JPY TIBOR
for 3 months)+0.55000%

January 31,
2030

Base rate(JPY TIBOR
for 3 months)+0.59167%

November 30,
2030

1

Collateral ・Repayment
MethodUnsecured,
unguaranteed・Repaymentof principal
in full onmaturity date

Note 1: The first interest payment of Series 181-A is due at the end of February 2021, and on the last day of every month thereafter with theprincipal repayment day. The first interest payment of Series 181-B, Series 181-C, Series 181-D and Series 181-E is due at the end ofApril 2021, and on the last day of every 3 months thereafter with the principal repayment day. If each interest payment day or theprincipal repayment day is a non-business day, then the interest payment or the principal repayment will be due on the next business dayand if that next business day is in the next month, then previous business day will be applied.
Note 2: The base rates that are applied during interest period for the interest due on each interest payment date for 181-A shall be calculated basedon Japanese Yen TIBOR for 1 month, for Series 181-B, 181-C, 181-D and 181-E based on Japanese Yen TIBOR for 3 months, which
the JBA TIBOR Administration (“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 181-A (1,800 million yen) is to apply the fund towards the repayment of Series 94-B (1,300 million yen) and aportion of Series 170-A (500 million yen) with the principal repayment date of January 29, 2021. Series 181-B (1,000million yen), Series 181-C (1,200 million yen) and a portion of Series181-D (2,000 million yen) are to apply the fundtowards the repayment of a portion of Series 171 (4,200 million yen) with the principal repayment date of January 29,2021. The other portion of Series 181-D (2,300 million yen) is to apply the fund towards the repayment of Series 95(2,300 million yen) with the principal repayment date of January 29, 2021.The remaining portion of Series 181-D(2,000 million yen) is to apply the fund towards the repayment of Series 113-A (1,500 million yen) and the otherportion of Series 170-A (500 million yen) with the principal repayment date of January 29, 2021. Series 181-E (800million yen) is to apply the fund towards the repayment of the other portion of Series 171 (800 million yen) with theprincipal repayment date of January 29, 2021.
3. Interest Rate Swap Agreements(1)Purpose
For a hedge against possible increases in future interest rate of Series 181-B, Series 181-C, Series 181-D and Series
181-E among the debt financing with floating interest rate.
(2)Details of Interest Rate Swap Agreements
Series181-B

Counterparty

Sumitomo Mitsui Trust Bank, Limited

Notional AmountInterestRate

181-C

Fixed Interest Rate for
Payment (Note)
Floating Interest Ratefor Receipt

1,000 million yen

1,200 million yen

0.03715％0.07685％
Base rate (JPY TIBOR for 3 months)

Commencement Date

January 29, 2021

Termination Date

January 31, 2024

The first payment is due at the end of April 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

Series181-D

Counterparty
Notional AmountInterestRate

January 31, 2028

Fixed Interest Rate for
Payment (Note)
Floating Interest Ratefor Receipt181-E
Sumitomo Mitsui Trust Bank, Limited

2,300
million yen

2,000million yen

2,000
million yen

0.12845％0.16305％
Base rate (JPY TIBOR for 3 months)

Commencement Date
Termination Date

800 million yen

January 29, 2021
January 31, 2030

2November 30, 2030

The first payment is due at the end of April 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 nextmonth, then previous business day will be applied. )Payment Date

Note: By entering into the interest rate swap agreements, the interest rate on Series 181-B, Series 181-C, Series 181-D and Series 181-E isessentially fixed at 0.28715%, 0.52685%, 0.67845% and 0.75472% respectively.

4. Status of Borrowings(as of January 29, 2021)(Millions of yen)

Short-Term Borrowings (Note 1)

Balance before
the Debt Financing
11,000

Balance after
the Debt Financing
6,800

Long-Term Borrowings (Note 2)

176,750

180,950+4,200187,750

187,750

0Classification

Total BorrowingsInvestment Corporation Bonds
Total Borrowings and Investment Corporation Bonds

Difference-4,20011,00011,0000

198,750

198,7500Note 1: 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 hasbeen moved to a different business day, are included in short-term borrowings.
Note 2: 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 January 27, 2021. However, noassurance or warranties are given for the completeness or accuracy of this English translation.

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