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.
March 25, 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
Executive Director
Head of Planning Group, Operations 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 March 31, 2021 (hereinafter called the “Loan Scheduledfor Repayment”).
2. Details of the New Loan
(1) Total Amount of the New Loan
JPY6,800M(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 PrincipalPrepayment
Maturity Date
Collateral

Term Loan 69
Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited, Sumitomo
Mitsui Trust Bank, Limited, Resona Bank, Limited
JPY6,800M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.50% (*1)
March 31, 2021 (plan)
Individual loan contracts to be concluded on March 29, 2021 with the lenders
indicated above based on the Basic Agreement concluded on November 13,
2013 (including subsequent amendments).
The first interest payment date is the end of April 2021. Subsequent interest
payment dates shall be at the end of each month (if the payment date is not abusiness day, it shall be paid on the preceding business day) and on thematurity date.
Lump-sum payment on the maturity date
March 31, 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 1 month 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
JPY6,800M(3) Scheduled date of the repayment
March 31, 2021
(4) Details of the subject individual loan
Loan

Date of borrowing

Term Loan 2
Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited,
Sumitomo Mitsui Trust Bank, Limited, Resona Bank, Limited
March 31, 2014

Maturity date

March 31, 2021

Borrowing balance

JPY6,800M

Lenders

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

BeforeAfterVariance

Short-term loans

12,782

19,582+6,800Long-term loans (*2)

114,372

107,572(6,800)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 87%.

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).
2

6. Other
With 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.

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