November 6, 2019
For Immediate Release

Infrastructure Fund Issuer
Takara Leben Infrastructure Fund, Inc.
Representative:
Masahide Kikuchi,
Management Company
Takara Asset Management Co., Ltd.
Representative:
Mamoru Takahashi,Contact:

Masahide Kikuchi,

Executive Director
Securities Code: 9281

President & CEO
Vice President & Director of
Infrastructure Fund
Division, Investment
Management Department
TEL: +81-3-6262-6402

Notice Regarding Borrowing of Funds
Takara Leben Infrastructure Fund, Inc. (hereinafter referred to as the “Investment Corporation”) hereby announces
the decision to borrow funds as follows (hereinafter referred to as the “Borrowings”).
I. Borrowing of funds
1. Details of the Borrowings (Note 1)

Category

LenderLongterm

Syndicate Loan:
Sumitomo
Mitsui Banking
Corporation(Arranger),
Shinsei Bank,
Limited(Arranger), andResona Bank,
Limited(Arranger)

Scheduledamount ofBorrowings(Unit:million yen)

9,300
(Note 2)

Interest rate

Base rate(Note 3)+0.5%(Note 4)

Expected
drawdown
date

Borrowing method

Maturity date

Repayment
methodCollateral

December 2,
2019

Borrowings basedon the individual
term loan agreement(commitment type)dated November 26,
2019 with thelenders shown on
the left

Business day
immediatelypreceding the10thanniversaryof the date ofexecution ofloans

Installment
repaymentin part(Note 5)

Unsecuredandunguaranteed(Note 6)(Note 1) The Borrowings described above are subject to the following conditions: Execution of relevant agreements reasonably satisfied
under the conditions of the financial institutions described in the section of “lender” above; satisfaction of the all preconditions
for execution of loans set forth in said agreements; and final approval of the terms and conditions of the relevant agreements bythe governing body of said financial institutions.
(Note 2) The final drawdown amount may be changed from the scheduled amount of the Borrowings above depending on the amount ofcash etc. received through the domestic public offering and overseas offering as outlined in the press release “Notice Concerning
Issuance of New Investment Units and Secondary Offering of Investment Units” announced as of today, and will finally bedecided prior to the execution date of the Borrowings.
(Note 3) The “base rate” shall be the 6 month Japanese Yen TIBOR as of the day two (2) business days prior to the date of execution oflendings or each due date of payment of interest that the General Incorporated Association Japanese Bankers Association (JBA)
TIBOR Administration publishes. The applicable base rate will be revised for each interest period. However, if a corresponding

1

base rate is not available for an interest calculation period, the base rate will be calculated using the method agreed in the relevantloan agreement. If such interest rate falls below 0%, the base rate shall be 0%. The 6 month Japanese Yen TIBOR can be checkedon the website of the General Incorporated Association JBA TIBOR Administration (http://www.jbatibor.or.jp/english/).
(Note 4) The Investment Corporation will enter into an interest rate swap agreement and fix the interest rate. Finance related costs paid tothe lenders are not included.
(Note 5) A part of the principal (the amount obtained by dividing the total sum of the Borrowings by 34) shall be repaid on the last day of
November and May of each year (if the said last day is not a business day, it shall be repaid on the immediately following
business day; and if the said immediately following business day falls within the following month, it shall be repaid on theimmediately preceding business day) with the date of the first installment payment being May 29, 2020. The remainder of theprincipal shall be repaid on the maturity date in a lump sum.
(Note 6) The Borrowings include or will include financial restrictions that maintain the Investment Corporation’s debt ratio (D/E ratio) andindex for determining principal and interest payment ability (DSCR) based on each closing date of the Investment Corporation asa condition of borrowing, and in the event of violating this restriction, collateral may be required.

2. Purpose of the Borrowings
For appropriation to part of the funds for acquisition of the infrastructure assets described in the press release“Notice Regarding Acquisition and Lease of Domestic Infrastructure Projects” announced as of today (hereafterreferred to as “Assets to Be Acquired”) as well as expenses related thereto.
3. Amount, purpose of use and schedule of expenditure of funds to be procured(1) Amount of funds to be procured
9,300,000,000 yen in total(2) Specific purpose of use of funds to be procured
For appropriation to part of the funds for acquisition of the Assets to Be Acquired and expenses related thereto(including national and local consumption taxes)(3) Schedule of expenditure
December 2, 2019
4. Status of loans, etc. after the Borrowings(Million Yen)
Before execution of loans

After execution of loans

described herein

Changedescribed herein(as of November 6, 2019)
Short-term loans (Note 1)

1,049

1,597

547

Long-term loans (Note 1)

14,75522,9838,227

15,80524,5808,775---------

15,80524,580

8,775

Total loans
Investment corporation bonds
Total sum of loans and investment
corporation bonds
Other interest-bearing debts
Total interest-bearing debts(Note 1) Short-term loans shall refer to loans payable for a period of one (1) year or less from the date of borrowing to the due date ofpayment. Long-term loans shall refer to loans payable for a period of more than one (1) year from the date of borrowing to thedue date of payment.
(Note 2) The figures indicated above have been rounded down to the nearest million yen.

II. Other matters necessary for investors to appropriately understand and determine the information herein described2With respect to risks regarding repayment etc. of the Borrowings, there is no change from the content of “Part II Reference Information, II. Supplemental Information to Reference Materials, 3. Investment Risks” in theSecurities Registration Statement submitted today.
End.
Our website: http://www.tif9281.co.jp/en/

3