August 26, 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< Long-term borrowing >Borrowing andrepayment
LoanInterest
Drawdown
Due date
Lendermethods,amountratedate (plan)(Note 1)security, andguarantee
Borrowing basedon a borrowing
agreement withTo bethe lenders
3
determined
Mizuho Trust & Banking Co., Ltd.
August 29,
February 27,
shown at left asbillion(Fixed rate)
Shinkin Central Bank
2019
2026
the creditor,yen(Note 2)lump-sum(Note 3)
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) Interest rate of the borrowing will be announced upon determination.
(Note 3) The interest payment will be made on the last day of February 2020 and the last days of February and August in eachyear thereafter as well as on the due date of the principal. (If an interest payment date is a non-business day, it shallbe the following business day. If such day falls in the following month, it shall be the immediately preceding businessday.)1

2.

Reasons for the borrowing

API will use the borrowing to redeem a long-term borrowing of 3 billion yen which becomes mature
on August 29, 2019 (the “Existing Long-term Borrowing”). For the details of the Existing Long-term
Borrowing, please refer to “Notice Concerning Borrowing of Funds” released on August 26, 2014.
3.

Amount, use and schedule of disbursement of funds to be raised(1) Total amount
3 billion yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Long-term Borrowing(3) Scheduled date of disbursement
August 29, 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 August 26,2019)
Short-term borrowings

Afterthe Borrowing(As of August 29,2019)

Change

9,000

9,000

0

10,3007,300(3,000)196,050

199,050

3,000

215,350

215,3500Investment corporation bonds
to be redeemed within one year

6,000

6,0000Investment corporation bonds

13,00013,0000234,350

234,3500(Note)

Long-term borrowings
to be repaid within one year
Long-term borrowings(Note)

Total amount of borrowings

Total amount of borrowings andinvestment corporation bonds(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.

2(2) Basic financing information after the Borrowing
Beforethe Borrowing(As of August 26,2019)
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

Afterthe Borrowing(As of August 29,2019)

Change(point)

96.2%

96.2%

089.2%

90.5%

1.3

91.1%

91.1%

0

(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 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/

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