<Provisional translation>
May 23, 2017For

For Immediate Release
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Yoshiaki Shiraki, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Yoshiaki Shiraki, President & Representative Director
Contact:
Hiroshi Yoshida
General Manager, IR and Public Relations Department
Email: hankyureit-ir@hankyu-rt.jp

Notice Concerning Debt Financing
Hankyu REIT, Inc. (hereafter “Hankyu REIT”) announces its decision made today to undertake debt
financing (hereafter the “Debt Financing”) as described below.

1. Reason for debt financing
These funds will be allocated for the repayment of 6,000 million yen in borrowings that was executed on
November 24, 2016.
2. Details of Debt Financing (Scheduled)
Amount ofdebt
financing(millions of yen)

Category

LenderLong -termborrowings

Sumitomo Mitsui Trust
Bank, Limited

2,800

Sumitomo Mitsui Trust
Bank, Limited

500

Mitsubishi UFJ Trustand Banking
Corporation

500

Short -termborrowings

Drawdowndate

Lendingandrepayment
methods

Not determined

500

Mizuho Bank, Ltd.

500

The Bank of TokyoMitsubishi UFJ, Ltd.

500

Mizuho Trust & Banking
Co., Ltd.

500

The Senshu Ikeda
Bank, Ltd.

200

Base interest
rate (JBA 1-monthJapanese YenTIBOR) + 0.15%
Variable interest
rate

6,000

1Maturitydate

May 31,
2027

Fixed interest rate

Sumitomo Mitsui
Banking Corporation

Total

Interest rates(Note)

May 31,
2017

Unsecured/ nonguaranteed
Lump-sum
repayment

May 28,2018

Note : • As for long-term borrowings, Interest payment dates are the last day of every May and November with the firstpayment date being November 30, 2017 (or the previous business day if the applicable date is a non-businessday of the bank). The interest rate are scheduled to be determined on May 29, 2017. They will be announced
once they are determined.
• As for short-term borrowings, Interest payment dates are 26th of every month, with the first payment date
being June 26, 2017 (or the next business day if the applicable date is a non-business day of the bank). Baseinterest rate applied on the interest to be paid on interest payment date will be JBA 1-month Japanese Yen
TIBOR as of two days prior to the most recent interest payment date (in case of first payment, this will be thedrawdown date) of each interest payment date. (The JBA 1-month Japanese Yen TIBOR as of May 22, 2017 is0.03000%).
• The JBA 1-month Japanese Yen TIBOR can be referenced on the website of the JBA TIBOR Administration:
http://www.jbatibor.or.jp/english/rate/• In the future, Hankyu REIT will not provide notification regarding the determination of variable interest rate. Asfor changes to the applicable base interest rate, please refer to the website of JBA TIBOR Administration.

3. Use for funds
Capital for repayment of borrowing below

Category

Amount ofdebt
financing(millions ofyen)

LenderSumitomo Mitsui Trust Bank,
LimitedShort-termborrowings

Maturity date

3,300

Mitsubishi UFJ Trust andBanking Corporation

500

Sumitomo Mitsui Banking
Corporation

500

Mizuho Bank, Ltd.

500

The Bank of Tokyo-Mitsubishi
UFJ, Ltd.

500

Mizuho Trust & Banking Co.,
Ltd.

500

The Senshu Ikeda Bank, Ltd.

200

Total

Lending andrepayment
methods

Drawdown dateNovember 24,
2016

Unsecured/ nonguaranteed
May 31, 2017
Lump-sum
repayment

6,000

4. Balance of Interest-bearing Debt after Execution of Debt Financing
Before execution ofdebt financing(millions of yen)

After execution ofdebt financing(millions of yen)

Change(millions of yen)

Short-term borrowings

6,000

3,200-2,800

Long-term borrowings (Note)

55,90058,700+2,800Total debt financing

61,90061,900±0

Investment corporation bonds

4,000

4,000±0

Total interest-bearing debt

65,90065,900±0(Note) Long-term borrowings are loans with a repayment term (from the drawdown date until the maturity date)exceeding one year.

25. Future Outlook
Since the impact of the Debt Financing on the conditions surrounding the management of Hankyu REIT’s
assets for the fiscal period ending May 2017 (24th fiscal period: December 1, 2016 to May 31, 2017) andNovember 2017 (25th fiscal period: June 1, 2017 to November 30, 2017) is expected to be minimal, there
is no revision to the forecasts.

6. Other
The risks associated with the Debt Financing, such as risks of repayment, have not changed in any
material way from the “risks associated with the fund procurement through additional issuance of new
investment units, debt financing and issuance of investment corporation bonds” in the “InvestmentRisks” stated in the Securities Report for the 23rd fiscal period (submitted on February 22, 2017).

•Hankyu REIT website: http://www.hankyu-reit.jp/eng/

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