April 8, 2021
For immediate Release

Real Estate Investment Trust Securities Issuer
1-6-5 Marunouchi, Chiyoda-ku, Tokyo
Mitsubishi Estate Logistics REIT Investment Corporation
Representative: Masaki Sakagawa, Executive Director(Securities Code: 3481)
Asset Management Company
Mitsubishi Jisho Investment Advisors, Inc.
Representative: Haruhiko Araki, President & CEO
Contact:
Masaki Sakagawa,
Executive Vice President, In charge ofLogistics REIT Management Department
TEL: +81-3-3218-0030

MEL Announces Issuance of Investment Corporation Bonds (Green Bonds) and Prepayment of Bank Loans
Mitsubishi Estate Logistics REIT Investment Corporation (MEL) announces today that MEL decided to issue investment
corporation bonds (“Green Bonds”) based on an amendment of shelf registration statement announced in the press
release “MEL Files Amendment to Shelf Registration Statement for Issuance of Green Bonds” dated Jan. 18, 2021 andper the blanket resolution approved at the board of directors’ meeting held on Apr. 7, 2021, and prepayment of bankloans (the “Prepayment”), as outlined below:
1.

Outline of Investment Corporation Bonds (Green Bonds)(1)

Name(2)(3)

Total Issue AmountForm of Bond Certificate

(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)

Issue Price
Redemption priceInterest Rate
Denomination Price
Offering Method
Application Date
Payment Date
Collateral and guarantee(12)

Redemption Method andDate(13)

Interest Payment Date

(14)
(15)
(16)

Financial CovenantCredit Rating
Financial Agent, Issuing
Agent and Payment Agent
Underwriters
SMBC Nikko Securities Inc.
Mizuho Securities Co., Ltd(17)

Mitsubishi Estate Logistics REIT Investment Corporation 1st Series Unsecured Bonds(Ranking pari passu among Specified investment corporation bonds) (Green Bonds)
2,000 million yen
Subject to the provisions of the Law Concerning Book-Entry Transfer of Corporate
Bonds and Shares, bond certificates will not be issued.
100 yen per 100 yen of each bond
100 yen per 100 yen of each bond0.700% per annum
100 million yen
Public offering
April 8, 2021 (Thursday)
April 14, 2021 (Wednesday)
Neither collateral nor guarantee is provided for Green Bonds, and no asset has been
particularly secured for the Green Bonds.
The total amount of the principal of the Green Bonds will be redeemed on April 14,2036.
Redemption by purchase will be available any time on and after the following days ofthe payment date except for the case separately provided by law or specified inoperational rules and other rules of book-entry transfer institution.
If the redemption date of the Green Bonds falls under a bank holiday, the bankbusiness day preceding it shall be deemed as the redemption date.
The first interest payment date will be October 31, 2021, and thereafter the April 30
and October 31 each year will be the interest payment date. (If the interest payment
date falls under a bank holiday, the bank business day preceding it shall be deemedas the interest payment date.)
Negative pledge is set.
AA- (Japan Credit Rating Agency, Ltd.)MUFG Bank, Ltd.

1

2.

3.

Purpose and Reason for the IssuanceAs part of its environmental efforts, MEL promotes Green Finance, and MEL borrowed a Green Loan for the firsttime on Mar. 9, 2021 based on the Green Finance Framework described in the press release “Notice Concerning
Debt Financing (including “ESG Loan for J-REIT” from MUFG Bank, Ltd. and “SDGs Green Loan” from Sumitomo
Mitsui Banking Corporation)” dated Mar. 4, 2021. We have decided to issue the Green Bonds in order to promote
efforts to enhance the environment, social contributions and corporate governance to improve the sustainabilityof society and to diversify financing methods. At the same time, MEL will further strengthen its financial base byissuing an extremely long-term Green Bonds of 15 years.
The Green Bonds is issued under the Green Finance Framework described above.
Amount of Funds to be Raised, Use of Proceeds and Schedule of Disbursement(1)Amount of Funds to be Raised (estimated net proceeds)
1,980 million yen(2) Use of Proceeds and Scheduled of Disbursement
The proceeds from the Green Bonds issuance will be allocated to the prepayment of a portion of the short-termloans (total amount 2,000 million yen) that were described in the press releases, “Notice Concerning Debt Financing”
and “Notice Concerning Debt Financing (including “ESG Loan for J-REIT” from MUFG Bank, Ltd. and “SDGs Green Loan”
from Sumitomo Mitsui Banking Corporation)” dated Oct. 6, 2020, and Mar. 4, 2021, respectively on Apr. 15, 2021.
The subject short-term loans were borrowed for MEL’s acquisition of three properties (LOGIPORT Osaka Taisho(initial acquisition of 20%), Logicross Osaka (additional acquisition of 40%) and Logicross Nagoya Kasadera (additionalacquisition of 40%) that were described in the press release “Notice Concerning Acquisition of Domestic Real Estate
Trust Beneficiary Interests and Lease Contracts with New Tenants” and “Notice Concerning Acquisition of Domestic
Real Estate Trust Beneficiary Interests and Lease Contracts with New Tenants” dated Sept. 19, 2019 and Feb. 18, 2021,
respectively.
External Evaluation andCertifications

Assessment Grades

LOGIPORT Osaka Taisho(Initial acquisition of 20%)

CASBEES Rank for Real Estate

BELS★★★★★ (ZEB Ready)

Logicross Osaka(Additional acquisition of 40%)

CASBEES Rank for Real Estate

BELS

Logicross Nagoya Kasadera(Additional acquisition of 40%)

CASBEE★★★★★

S Rank for Real Estate

BELS

★★★★★

Property name

4. Detail of Prepayment(1) Prepayment amount and Detail of the Bank Loan to be Prepaid
2,000 million yen
Category

LenderShortterm

MUFG Bank,Ltd

BorrowingAmount(Millions of yen)
200
1,800

Interest rate

BorrowingDate

Basic interest
rate+0.090%(floating rate)

Oct. 9,2020
Mar. 9,2021(2) Prepayment Date
April 15, 2021
(3) Source of Funds for Prepayment
The issuance of the Green Bonds and cash on hand.
2OriginalRepayment
Date
Oct. 9,2021
Mar. 9,2022

Repayment
MethodCollateral

Paid in fullupon
maturity

Unsecured andnonguaranteed5.

Upper Limit of Green Finance and Allocation Status After Issuing the Green Bonds
The total acquisition price of Green Eligible Assets (Note) after issuing the Green Bonds are 107,267 million. The
upper limit of green finance is 31, 536 million using the LTV as of the end of August 2020 (8th fiscal period) of 29.4%.
The allocation status after the issuance of Green Bonds are as follows.
Funds(Millionsof yen)

Procurement
Date

Repayment /Redemption
Date

Allocation Status

Green Loans

1,350

Mar. 9, 2021

Mar. 9, 2025

Allocated

Green Bonds

2,000 Apr. 14, 2021

Apr. 14, 2036

To be allocated

Use of Initial Funds
Acquisition of Logicross Osaka(additional acquisition of 40%),
Logicross Nagoya Kasadera(additional acquisition of 40%)
Refinancing of acquisition ofLOGIPORT Osaka Taisho (initialacquisition of 20%), LogicrossOsaka (additional acquisition40%), Logicross Nagoya Kasadera(additional acquisition of 40%)

Total Green Finance

3,350----

Upper Limit of Green Finance

31,536----

Note: For further details on Green Eligible Assets, please refer to the press release, “MEL“
Files Amendment to Shelf
Registration Statement for Issuance of Green Bonds” dated Jan. 18, 2021.

6.

Additional Information for Investors
For the risks associated with the Green Bonds issuance and the Prepayment, there have been no changes to “I.
Fund Information, 1. Fund Status, 3. Investment Risks” stated in the Securities Report, filed on Nov. 27, 2020 (Japaneseonly).

＜Reference＞Outstanding Debt Balance after the Prepayment and Issuance of the Green Bonds(Unit：Millions of yen)
Before Prepayment andBefore issuanceof the Green Bonds
4,700
55,87460,574-

Short-term Borrowings (Note 1)
Long-term Borrowings (Note 2)
Total Borrowings
Investment Corporation Bonds
Total Borrowings and Investment
60,574
Corporation Bonds
Notes:
1. Short-term refers to borrowings due within one year from the borrowing date.

Before Prepayment andBefore issuanceof the Green Bonds
2,700
55,87458,5742,000

60,5742. Long-term refers to borrowings due within a period longer than one year from the borrowing date.

For more information about Mitsubishi Estate Logistics REIT Investment Corporation, please visit：https://mel-reit.co.jp/en/

3Variance(2,000)(2,000)+2,000-