Make The World
More Sustainable[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

March 19, 2020
IssuerIchigo Office REIT Investment Corporation (“Ichigo Office,” 8975)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
www.ichigo-office.co.jp/english
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Sanae Hiraoka, Head of Ichigo OfficeTel: +81-3-3502-4891

Bond IssuancePursuant to its board resolution on May 28, 2019, Ichigo Office today decided to issue
JPY 1 billion of bonds in order to diversify its funding and lower its borrowing costs.
1. Bond Details
Name
Total Issue AmountForm of Bond Certificate
Issue Price
Redemption Price
Interest Rate
Bond Denomination Amount
Offering Method
Subscription Period
Payment Date
Collateralized
Redemption Date and Method

Interest Payment Date

Credit Rating
Financial Covenants
Depository

Ichigo Office Fifth Unsecured InvestmentCorporation Bonds (ranking pari passu among
Ichigo Office investment corporation bonds)
JPY 1 billion
Pursuant to the Act on Book Entry of Corporate
Bonds and Shares, bond certificates will not beissued.
Par (JPY 100)
Par (JPY 100)
0.300% p.a.
JPY 100 million
Public Offering
March 19, 2020
March 26, 2020
No
Lump sum redemption on March 26, 2025.
The bonds may be purchased and cancelled at any
time on and after the date following the payment
date unless otherwise stipulated by the depository.
March 26 and September 26 every year (the firstpayment date will be September 26, 2020). If apayment date is not a business day, payment shallbe made on the previous business day.
A (JCR, Japan Credit Rating Agency)
Negative pledge
Japan Securities Depository Center1

Fiscal, Issuing, and Paying AgentUnderwriters

SMBC
SMBC Nikko Securities

2. Reason for Bond Issuance
To diversify Ichigo Office’s funding and lower its borrowing costs.
3. Total Amount to be Raised and Use and Timing of Proceedsa. Amount of Estimated Net Proceeds
JPY 988 million
b. Use of Proceeds and Scheduled Expenditure Date
The proceeds will be used to fund asset acquisitions (expected to occur by October 31,2020), and will be retained as cash until then.
4. Outstanding Loan and Bond Balance (as of March 26, 2020)(JPY million)
BeforeBond Issuance
(A)

After
Bond Issuance(B)

Short-term bank loans–––

Long-term bank loans(due within one year)

16,00016,000–Long-term bank loans

88,02388,023–

Total bank loans

104,024

104,024

–

4,400

5,400

+1,000108,424

109,424+1,000

Bonds
Total bank loans and bonds

Change(B) - (A)

5. OtherRisks related to this bond issuance remain unchanged from the “Investment Risks”
described in the latest Financial Report submitted on January 28, 2020.

2

Distribution of Loan and Bond Maturities (as of March 26, 2020)■ Bank Loans (floating rate)
9,574

10,233

9,639

9,629

■ Bank Loans (fixed rate)
9,633■ Existing Bonds■ New Bonds

9,623
7,346

8,846

9,056

1,000

1,200

(JPY million)

7,266

1,000
7,246
4,955

4,600

7,856
2,900

6,346

2,793

2,000955
April2020

Oct2020

Apr2021

Oct2021

Apr2022

Oct2022

Apr2023

Oct
2023

Apr
2024

1,200

1,000

900600
Oct
2024

Apr
2025

3

Oct
2025

Apr
2026

Oct
2026

Apr
2027

Oct
2027

Apr
2028

Oct
2028

Apr
2029

Oct
2029

Apr2030