June 20, 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 Borrowings of Funds
Activia Properties Inc. (“API”) announces today that it decided to borrow funds (the “Borrowings”).
Details are as follows:
I. Borrowing①1.

Details of the borrowing< Long-term borrowing >Borrowing andrepayment
LoanInterest
Drawdown
Due date
Lendermethods,
amountrate
date (plan)(Note 1)security, andguarantee
Borrowing basedon a borrowing
agreement withTo bethe lenders
2.4
determined
DecemberMizuho Trust & Banking Co., Ltd.
June 28,
shown at left as
Billion(Fixed rate)
28,
The Norinchukin Bank2019
the creditor,yen(Note 2)2026
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 December 2019 and the last days of June and December 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 2.4 billion yen which becomes matureon June 28, 2019 (the “Existing Long-term Borrowing①”). For the details of the Existing Long-term
Borrowing①, please refer to “Notice Concerning Borrowing of Funds” released on June 27, 2016.
3.

Amount, use and schedule of disbursement of funds to be raised(1) Total amount
2.4 billion yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Long-term Borrowing①(3) Scheduled date of disbursement
June 28, 2019
II. Borrowing②
1.

Details of the borrowing< Long-term borrowing >LenderSumitomo Mitsui Trust Bank, Limited
Mizuho Bank, Ltd.
MUFG Bank, Ltd.
Sumitomo Mitsui Banking Corporation
Development Bank of Japan Inc.

Loan
amountInterest
rate

1.7
billionyenTo bedetermined(Fixed rate)(Note 2)
(Note 3)

Drawdown
date (plan)

July 9,2019

Due date(Note 1)

Borrowing andrepayment methods,
security, and guarantee

July 10,
2028

Borrowing based on aborrowing agreementwith the lenders shownat left as the creditor,
lump-sum 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 the determination.
(Note 3) The interest payment will be made on the last day of January 2020 and the last days of January and July in each year
thereafter as well as on the due date of the principal. (If an interest payment date is a non-business day, it shall be thefollowing business day. If such day falls in the following month, it shall be the immediately preceding business day.)2.

Reasons for the borrowing

API will use the borrowing to redeem a long-term borrowing of 1.7 billion yen which becomes matureon July 9, 2019 (the “Existing Long-term Borrowing ② ”). For the details of the Existing Long-term
Borrowing②, please refer to “Notice Concerning Borrowing of Funds” released on December 10, 2014.
3.

Amount, use and schedule of disbursement of funds to be raised(1) Total amount
1.7 billion yen in total(2) Specific purpose of use
Funds will be used to redeem the Existing Long-term Borrowing②(3) Scheduled date of disbursement
July 9, 20192

IV. Status of borrowings payable, etc. after the Borrowings
1.

Interest-bearing debt balance after the Borrowings(In millions of yen)
Beforethe Borrowings(As of June 20,2019)
Short-term borrowings

Afterthe Borrowings(As of July 9,2019)

Change14,00014,000014,40010,300(4,100)191,950

196,050

4,100

220,350

220,3500Investment corporation bonds
to be redeemed within one year

6,000

6,0000Investment corporation bonds

8,000

8,000

0

234,350

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.

Basic financing information after the Borrowings
BeforeAfter
the Borrowings
the Borrowings(As of June 20, 2019) (As of July 9, 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

Change(point)

94.0%

94.0%

085.3%

87.1%

1.7

89.0%

89.0%

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.

3V. Other
Regarding the risks related to the repayment of the Borrowings, 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/4