Translation of Japanese Original
To All Concerned Parties
October 27, 2023
REIT Issuer:
Kenedix Office Investment Corporation
Hiroaki Momoi, Executive Director
(Securities Code: 8972)
Asset Management Company:
Kenedix Real Estate Fund Management, Inc.
Hikaru Teramoto, President & CEO
Inquiries:
Tomoya Shigaki
Head of Strategic Planning,
Office REIT Department
TEL: +81-3-5157-6010
Notice Concerning Debt Financing (Series 0004)
Kenedix Office Investment Corporation ("the Investment Corporation", the name is to be changed to KDX Realty Investment Corporation) announced today, that the Investment Corporation decided to undertake the debt financing (total of 1,000 million yen) through the green loan. Please see below for the details.
1. Outline of Debt Financing
Amount | Interest Rate | Contract | Drawdown | Principal | Collateral | ||
Series | Lender | Repayment | Repayment | ||||
(Note 1) | Date | Date | |||||
Date (Note 1) | Method | ||||||
Unsecured, | |||||||
1,000 | Base rate (Note 3) | unguaranteed | |||||
0004 | Sumitomo Mitsui | ・ | |||||
(JPY TIBOR | October 30, | November 1, | April 30, | ||||
million | Repayment | ||||||
(Note 2) | Banking Corporation | for 1 month) | 2023 | 2023 | 2024 | ||
yen | of principal | ||||||
+0.12500% | |||||||
in full on | |||||||
maturity date |
Note 1: The first interest payment of Series 0004 is due at the end of November 2023, and on the last day of every month thereafter with the principal repayment day. If each interest payment day or the principal repayment day is a non-business day, then the interest payment or the principal repayment will be due on the next business day and if that next business day is in the next month, then previous business day will be applied.
Note 2: The debt financing is the green loan. The green loan is to be applied to the repayment of borrowings for the acquisition of the property with a certain level of environmental evaluation and certification in accordance with the Green Finance Framework ("the Framework") established by the Investment Corporation. The Framework has received a "Green1(F)" rating in the "JCR Green Finance Framework Evaluation" from Japan Credit Rating Agency, Ltd. ("JCR") on August 10, 2022. The details of the Investment Corporation's initiatives of green finance are available on the website (https://www.kdo-reit.com/en/sustainability/environment7.html).
Note 3: The base rate that is applied during the interest period for the interest due on the interest payment date shall be calculated based on a Japanese Yen TIBOR, which JBA TIBOR Administration ("the JBATA") releases two business days before the interest payment date. The Japanese Yen TIBOR of the JBATA is available on the JBATA website (https://www.jbatibor.or.jp/english/rate/).
2. Purpose of Debt Financing
Series 0004 is to be applied to the fund towards the repayment of Series 203-A with the principal repayment date of November 1, 2023. For details on Series 203-A, please refer to the press release, "Notice Concerning Debt Financing (Green Loan etc.)" dated August 25, 2023.
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3. Status of Borrowings and Investment Corporation Bonds after the Debt Financing (as of November 1, 2023)
(Millions of yen) | ||||||||||||
Classification | Balance before | Balance after | Difference | |||||||||
the Debt Financing | the Debt Financing | |||||||||||
Short-Term Borrowings (Note 1) | 2,000 | 2,000 | - | |||||||||
Long-Term Borrowings (Note 2) | 199,950 | 199,950 | - | |||||||||
Total Borrowings | 201,950 | 201,950 | - | |||||||||
Investment Corporation Bonds | 13,000 | 13,000 | - | |||||||||
Total Borrowings and Investment Corporation Bonds | 214,950 | 214,950 | - |
Note 1: Short-term borrowings refer to debt financing with a period less than or equal to one year from the drawdown date to the principal repayment date. However, the borrowings for which the period until the principal repayment date has surpassed one year because the principal repayment date after one year from the drawdown date is not a business day, and for which the principal repayment date has been moved to a different business day, are included in short-term borrowings.
Note 2: Long-term borrowings refer to debt financing with a period more than one year from the drawdown date to the principal repayment date.
Note 3: Changes in interest-bearing debt due to the merger scheduled to take effect on November 1, 2023 have not been taken into account.
4. Other
For risks concerning the repayment, etc. of the aforementioned debt financing, there are no significant changes to the "Investment Risks" as described in the Securities Report (submitted on July 28, 2023).
The Investment Corporation's website: https://www.kdo-reit.com/en/
This notice is the English translation of the Japanese announcement on our website released on October 30, 2023. However, no assurance or warranties are given for the completeness or accuracy of this English translation.
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Kenedix Office Investment Corporation published this content on 27 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2023 08:11:18 UTC.