NEWS RELEASE
November 11, 2021
For Immediate Release

Investment Corporation
Japan Real Estate Investment Corporation
Yutaka Yanagisawa, Executive Director(TSE code: 8952)
Asset Management Company
Japan Real Estate Asset Management Co., Ltd.
Naoki Umeda, President & CEO
Contact: Masaru Motooka
Executive Officer & General Manager
Planning Department
Phone: +81‐3‐3211‐7951

Announcement of Debt Financing
Japan Real Estate Investment Corporation (“JRE”) hereby announces its decision today to procure funds
as follows:

1. Overview of the borrowing
LenderLoan
amountThe Norinchukin
BankJPY 5,000
millionShinkin CentralBankThe Daishi
Hokuetsu Bank,Ltd.
The Chugoku
Bank, Limited

JPY 5,000million

0.405%(Fixed)

JPY 3,200million

0.395%(Fixed)

JPY 1,000million

0.405%(Fixed)

JPY 1,000million

0.395%(Fixed)

The 77 Bank, Ltd.

The Hachijuni
Bank, Ltd.

JPY 1,000
millionInterest
rate

Borrowingdate

Borrowing
methodPrincipal
repayment
methodPrincipal
repayment
date

Lump‐sum
repaymenton theprincipal
repayment
date

Nov. 17,2031

0.405%(Fixed)(Note1)

Nov. 15,
2021

Loanagreement
dated Nov. 11,
2021
Unsecured
unguaranteed

Baserate+0.100%(Note2)

Total amountInterest payment
date (Note3)

JPY 16,200 million

1

The principal
repayment date
and the 15th of
every May andNov. in the period
until the principal
repayment date

The principal
repayment date
and the 15th of
every Feb., May,Aug., and Nov. inthe period until
the principal
repayment date

(Note1) This borrowing will be procured through a sustainability‐linked loan (“SLL”), whose loan terms are aligned with
JRE’s achievement status of the following sustainability performance targets (“SPTs”) set beforehand.
・SPT 1: Reduce CO2 emissions by 35% by fiscal 2030 (Base year: Fiscal 2013 / Carbon intensity basis)・SPT 2: Own five ZEBs (zero‐energy buildings) by fiscal 2030
The applicable interest rate will be lower by 0.01% on the condition that either one of the above targets set asSPTs are achieved for the performance levels set for May 2022, May 2025 and May 2029, respectively, for theperiod until the performance level is next confirmed (for the time of final confirmation, the repayment date).
Please refer to “Loans and Bonds” under Financial Summary of JRE’s website(https://www.j‐re.co.jp/en_cms/finance/debt.html) for the interest rate applicable after the performance level isconfirmed.
Moreover, in concluding the agreement for the SLL, JRE has obtained a second‐party opinion from Japan Credit
Rating Agency, Ltd. (JCR) with regard to conformity with the Sustainability Linked Loan Principles and therationality of the established SPTs. For more details, please refer to the press release by JCR.
https://www.jcr.co.jp/greenfinance/ (in Japanese)
・Joint release by the Norinchukin Bank and JRE
https://www.j‐re.co.jp/file/en‐news‐75ef06be64364743c8adcbd936f781e5159e99b1.pdf(Note2)・The base rate to calculate the interest to be paid on an interest payment date is 3‐month JPY TIBOR publishedby Japanese Bankers Association (“JBA”) as of the second preceding business day of the most recent interest
payment date. (JBA 3‐month JPY TIBOR as of November 11, 2021 is 0.05727%.)
・For the JBA Japanese Yen TIBOR, please refer to JBA TIBOR administration’s website(https://www.jbatibor.or.jp/english/rate/).
(Note3) When an interest payment date is not a business day, the interest shall be paid on the following business day or
the immediately preceding business day if the following business day is in the following month.

2. Reason for the borrowing
To repay the existing long‐term loan of JPY 13 billion executed on November 14, 2014 and allocate
the remainder as cash on hand
3. Balance of interest‐bearing debt after the debt financing(Units: millions of JPY)

BeforeShort‐term loans payable

After

Increase/Decrease

18,00018,000±0

20,00021,000+1,000337,500

339,700+2,200Total loans

375,500

378,700+3,200Investment corporation bonds

42,99342,993±0

Total
investment corporation bonds

42,99342,993±0Total interest‐bearing debt

418,493421,693+3,200Long‐term loans payable(Variable interest rate)
Long‐term loans payable(Fixed interest rate)

4. Others
Regarding risks pertaining to this loan repayment, there is no material change to the descriptionsof “Investment risks” in the latest securities report submitted on June 25, 2021.

This is the English translation of the announcement in Japanese dated November 11, 2021.
No assurance or warranties are given for the completeness or accuracy of this English translation.
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