This English translation is provided for information purposes only. If any discrepancy is identified between thistranslation and the Japanese original, the Japanese original shall prevail.
September 22, 2021
REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985)
Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd.
Hisashi Furukawa, Representative Director and President
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Planning Division
TEL: +81-3-6422-0530
Notice Concerning New Loan (Refinancing)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved as below
today on new borrowing (hereinafter called the “New Loan”) for the purpose of refinancing of the existing loan.

1. Summary of the New Loan
JHR plans to refinance the existing loan, which is due on September 30, 2021 (hereinafter called the “Loan
Scheduled for Repayment”).
2. Details of the New Loan
(1) Total Amount of the New Loan
JPY15,847M(2) Details of the New Loan
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date

Method of Principal Repayment
Maturity Date
Collateral

Term Loan 71
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Resona Bank,Limited, Shinsei Bank, Limited, Sumitomo Mitsui Trust Bank, Limited,Development Bank of Japan Inc., Aozora Bank, Ltd.
JPY15,847M
Base interest rate (JBA Japanese Yen TIBOR for 3 months) + 0.50% (*1)
September 30, 2021 (plan)
Individual loan contracts to be concluded on September 28, 2021 with thelenders indicated above based on the Basic Agreement concluded on
November 13, 2013 (including subsequent amendments).
The first interest payment date is the end of December 2021. Subsequentinterest payment dates shall be at the end of March 2022, the end of June
2022 (if the payment date is not a business day, it shall be paid on thepreceding business day) and on the maturity date.
Lump-sum payment on the maturity date
September 30, 2022 (borrowing term: 1 year)
Unsecured/Unguaranteed1(*1) Base interest rate to be applied to the calculation period for the interest to be paid at interest payment dates will beJBA Japanese Yen TIBOR for 3 months at 2 business days prior to preceding interest payment date. Please refer tothe website of JBA TIBOR Administration for the JBA Japanese Yen TIBOR(http://www.jbatibor.or.jp/english/rate/).

3. Summary of the Loan Scheduled for Repayment(1) Summary of the repayment
JHR plans to repay the loan with using the New Loan.
(2) Total amount of the repayment
JPY15,847M(3) Scheduled date of the repayment
September 30, 2021
(4) Details of the subject individual loan
Loan

Date of borrowing

Term Loan 7
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., ResonaBank, Limited, Shinsei Bank, Limited, Sumitomo Mitsui Trust Bank,LimitedSeptember 30, 2014

Maturity date

September 30, 2021

Borrowing balance

JPY4,000M

Loan

Date of borrowing

Term Loan 66
Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited, Mizuho
Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, Resona Bank,Limited., Development Bank of Japan Inc., Aozora Bank, Ltd.
September 30, 2020

Maturity date

September 30, 2021

Borrowing balance

JPY11,747M

Loan

Term Loan 67

Lenders

The Chiba Bank, Ltd.

Date of borrowing

September 30, 2020

Maturity date

September 30, 2021

Borrowing balance

JPY100M

Lenders

Lenders24. Status of the Interest-Bearing Debt Before and After the New Loan (scheduled)(Unit: millions of yen)
Category

BeforeAfterVariance

Short-term loans

19,582

23,582+4,000Long-term loans (*2)

107,572

103,572(4,000)Total Loans

127,154

127,1540

Total investment corporation bonds

41,60041,6000

168,754

168,7540

Total interest-bearing debt(*1) Amounts are rounded down to the nearest millions of yen.
(*2) Long-term loans payable within one year are included in the long-term loans.

* The fixed interest rate ratio to the total interest-bearing debt after the New Loan is forecasted to bearound 85%.
5. Future Prospects
The impact is subtle, and no change is required for the operating forecast for the fiscal year ending December 2021
(January 1, 2021 through December 31, 2021).
6. OtherWith respect to the risks of the New Loan, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 25, 2021 and in the Semiannual Securities Report (Japanese only) submitted
today.

* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3