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 21, 2022
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, President & CEO
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Finance and Planning Division
TEL: +81-3-6422-0530
Notice Concerning New Loan (Refinancing) and Prepayment of Existing Loans
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved today on new
borrowing (hereinafter called the “New Loan”) and prepayment of existing loans (hereinafter called "Prepayment”)
for the purpose of refinancing of the existing loan.
1. Summary of the New Loan
(1) Content of the New Loan
JHR plans to refinance the existing loans, which will be due on September 30, 2022 (hereinafter called the“Loans Scheduled for Repayment”).
(2) Amount of the New Loan
JPY15,702M(3) Details of the New Loan
Name of Loan
LenderAmount of the New LoanInterest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of Principal Repayment
Maturity Date
Collateral

Term Loan 77
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.
JPY15,702M
Base interest rate (JBA Japanese Yen TIBOR for 3 months) + 0.50% (*)
September 30, 2022 (plan)
Individual loan contracts to be concluded on September 28, 2022 with thelenders indicated above based on the Basic Agreement concluded on
November 13, 2013 (including subsequent amendments).
The interest payment dates shall be at the end of December 2022, the end ofMarch 2023, the end of June 2023 (if the payment date is not a business day,it shall be paid on the preceding business day) and on the maturity date.
Lump-sum payment on the maturity date
September 29, 2023 (borrowing term: 1 year)
Unsecured/Unguaranteed1(*)

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/).

2. Summary of the Loan Scheduled for Repayment(1) Content of the repayment
JHR plans to repay the loan with using the New Loan.
(2) Total amount of the repayment
JPY15,702M(3) Scheduled date of the repayment
September 30, 2022
(4) Details of the subject individual loanLoan

Term Loan 71

Lenders

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.

Date of borrowing

September 30, 2021

Maturity date

September 30, 2022

Balance of the Loan

JPY15,702M

3. Summary of Prepayment(1) Content of the Prepayment
JHR will prepay the following loans using the funds procured by the issuance of investment corporation
bonds announced in the "Notice Concerning Issuance of Investment Corporation Bonds" dated September
13, 2022.
(2) Total amount of the Prepayment
JPY1,923M(3) Scheduled date of the Prepayment
September 30, 2022
(4) Details of the subject individual loans to be prepaid
Loan

Term Loan 72

Lenders

Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
Sumitomo Mitsui Trust Bank, Limited, Development Bank of Japan Inc.

Date of borrowing

December 16, 2021

Maturity date

December 16, 2022

Borrowing balance

JPY1,500M
2

Loan

Term Loan 76

Lenders

Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
Sumitomo Mitsui Trust Bank, Limited

Date of borrowing

June 30, 2022

Maturity date

December 30, 2022

Borrowing balance

JPY423M

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

BeforeAfter

Variance

Short-term loans

32,43630,513(1,923)Long-term loans (*2)

92,21892,218-

Total Loans

124,654

122,731(1,923)

Total investment corporation bonds

42,90042,900-Total interest-bearing debt

167,554

165,631(1,923)(*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 and Prepayment is
forecasted to be around 80%.
5. OtherWith respect to the risks of the New Loan, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 24, 2022 and Semi-Annual Securities Report submitted today.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3