[For Translation Purposes Only]
February 22, 2016

For Immediate Release
To Whom It May Concern
Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Satoshi Yanagita, Executive Director
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Norio Ambe, President & Chief Executive Officer
Inquiries:
Motomi Uki
Director and Managing Executive Officer
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Debt Financing
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund” or ”NMF”) announced today that theFund will procure debt financing as stated below.

1. Purpose
Nomura Master Fund has decided to procure the debt financing of ¥5,000 million for the redemption of existing
investment corporation bonds of Nomura Real Estate Residential Fund, Inc., which matures on Febuary 25, 2016.
2. Details of Debt Financing
AmountLenders
The Bank ofTokyo-Mitsubishi UFJ, Ltd.
Sumitomo Mitsui Banking
Corporation

2,000

Mizuho Bank, Ltd.

1,000

(Note 1)

(Note 2)

(Note 3)(Note 4)

Interest Rate

(millions of yen)

2,000Drawdown
DateTerm

Loan TypeRepayment
Terms ofDate(Note 4) Repayment

CollateralFloating-rate
Lump-sum
Term Loan
Basic Interest Rate
(Commitment
repayment
February 24,
Unsecured,
February 24,
Line+0.60%
1 year Agreement,on the2017
2016
unguaranteed(Note1) (Note 2)
repayment
contracted on(Note3)
June 11, 2015)

date

Basic Interest Rate, which applies to the calculation period of the interest rate to be paid on the Interest Payment Date, will be
JBA 1 month JPY TIBOR as of two business days before the previous Interest Payment Date of the respective interest
payment dates (however, the Drawdown Date for the first interest rate calculation period) announced by the JBA TIBORAdministration.
Basic Interest Rate indicated in (Note 1) will be reviewed on each Interest Payment Date. However, in the case the rate thatapplies to the calculation period of the interest rate does not exist, what is calculated based on the method stated in the contract
will be the Basic Interest Rate that applies to the concerned period. Refer to the JBA TIBOR Administration website regarding
the changes in the respective JBA Japanese Yen TIBOR, the base interest rate.
March 26, 2016, the first interest payment date, and 26th of every month thereafter until the Repayment Date. (or the following
business day if the date is a non-business day, or the prior business day if the following business date is in the next month)
Repayment Date is the following business day if the date is a non-business day, or the prior business day if the following
business date is in the next month

3. Use of Funds(1) Specifics:

Loan proceed is to be used for the redemption of the existing investment
corporation bonds.

(2) Scheduled Date of Use:

February 25,2016－ 1 －4. Status of Interest-bearing Debts after Drawdown and the redemption of the bonds(¥mln)
Before drawdown andthe redemption of thebonds
Short-term Borrowings
Long-term Borrowings(Note 1)After drawdown and theredemption of thebonds

Increased/Decreased
Amount

4,100

9,100

+5,000362,176

362,176－Investment Corporation
Bond (Note 2)
Sub Total

37,50032,500－5,000399,676

394,676－5,000

Total

403,776

403,776－(Note 1)
(Note 2)

Includes Long-term Borrowings due within one year
Includes Investment Corporation Bond due within one year

5. Other Matters Required for Investors to Accurately Understand and Evaluate the Information
NMF was incorporated through the consolidation-type merger as of October 1, 2015, and has not filed any Securities
Registration Statement or Securities Report and therefore has not disclosed “Investment Risks” yet. Please refer to thecontent of “Investment Risks” of the Securities Reports (in Japanese) filed by Former NMF on November 27, 2015, byNomura Real Estate Office Fund, Inc. on July 29, 2015 and by Nomura Real Estate Residential Fund, Inc. on August 26,
2015, respectively, regarding the risks involved in the repayment of the borrowings, etc., as there is no material change insuch risks.
NMF is to disclose its “Investment Risks” in the Securities Report of NMF (the fiscal period from October 1, 2015 toFebruary 29, 2016) to be filed hereafter.

*Nomura Real Estate Master Fund, Inc. URL: http://www.nre-mf.co.jp/english/－ 2 －