Daiwa Securities Living Investment: Debt Refinancing Notice

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English translation

The following is an English translation of the original Japanese press release and is provided for informational purposes only.

June 23, 2022

To all parties concerned

REIT Issuer: Daiwa Securities Living Investment Corporation

6-2-1 Ginza, Chuo-ku, Tokyo 104-0061

Yoshio Urata, General Manager

(Value code: 8986)

Asset Manager: Daiwa Real Estate Asset Management Co. Ltd.

Yoshiki Nishigaki, President and CEO

For further information: Kentaro Azumi, General Manager, Corporate Division

Tel: +81-3-6757-9680

Notice regarding debt refinancing

Daiwa Securities Living Investment Corporation (hereinafter referred to as the “Investment Company”) decided today to refinance the loans in the total amount of 1,500 million yen, which are due to be repaid on June 30, 2022 (hereafter hereafter referred to as the “Refinancing”).

I. Refinancing

1. Borrowing funds

  1. Reason for borrowing

The Investment Company has decided to contract new borrowings for the purpose of refinancing existing borrowings in the aggregate amount of 1,500 million yen, which are due to be repaid on June 30, 2022. For details of the borrowings, please refer to the press release “Notice Regarding Borrowing of Funds” on December 19, 2014.

(2) Summary of Borrowings

The Investment Company has decided to borrow a total of 1,500 million yen from financial institutions with outstanding transactions.

Number of

Sampling

Lenders

loan

Interest rate

Method

Due date

Date

(million JPY)

MUFG Bank, Ltd.

3 month JBA

June 30th,

Insecure,

September 28,

1,500

japanese yen

Lump sum

Resona Bank, Limited

TIBOR+0.4950%

2022

refund on

2029

(To note)

the due date

(Note) The Interest Payment Date is the last day of March, June, September and December of each year after September 30, 2022 (if the relevant day is not a business day, the next business day, and if the next business day falls within the next month, the immediately preceding business day). The base interest rate applied to the interest calculation period paid on the Interest Payment Date is calculated on the basis of the 3-month JBA TIBOR published two business days before the start of the interest calculation period.

Please check the JBA TIBOR administration website (http://www.jbatibor.or.jp/english/rate/) for information on the JBA Yen TIBOR.

2. The date of this agreement June 23, 2022

English translation

The following is an English translation of the original Japanese press release and is provided for informational purposes only.

  • balance statement and Interest-bearing debt ratio before and after the refinancing.

(Unit: JPY million)

Before the

After the

Refinancing

Refinancing

To change

June 29, 2022

June 30, 2022)

Short-term loans (Note 1)

0

0

0

Long-term borrowings (Note 1)

159,587

159,587

0

(Long-term borrowings less than one year) (Note 2)

26,900

25,400

-1,500

Total borrowings

159,587

159,587

0

Investment company bonds

22,100

22,100

0

Total interest-bearing debt

181,687

181,687

0

(Note 1) Borrowing periods for short-term borrowings are less than one year and long-term borrowings are greater than one year.

(Note 2) Long-term borrowings within one year represent borrowings within one year of the respective dates indicated above.

Ⅲ. Forecasts

The impact of the Refinancing on the asset management conditions is minimal for the tax periods ending September 30, 2022 (April 1, 2022 to September 30, 2022) and the tax period ending March 31, 2023 (October 1, 2022 to September 31, 2022). March 2023).

Ⅳ. Other

Regarding refinancing risks, there is no material change in the “investment risks” indicated in the securities report for the 32nd financial year (submitted on June 21, 2022).

*URL: https://www.daiwa-securities-living.co.jp/en/

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