Make The World
More Sustainable[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes.
Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.

April 22, 2024
IssuerIchigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463)
2-6-1 Marunouchi, Chiyoda-ku, Tokyo
Representative: Eriko Ishii, Executive Director
www.ichigo-hotel.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel
Tel: +81-3-4485-5232

New LoanIchigo Hotel decided today to borrow funds via a new loan.
1. Loan Rationale
The new loan will be used to repay an existing loan (JPY 2,220 million). Details of theloan to be repaid are in Section 3 below.
2. New Loan Details
Term Loan 31
Loan Date

Lenders

SMBC
Mizuho BankSBI ShinseiBank
Apr 30, 2024
Resona Bank
Nishi-Nippon
City Bank
1

LoanAmount(JPY million)

InterestRate

RepaymentDate(Loan Term)

Repayment
Terms

Collateralized

2,220

3M JPYTIBOR+0.75%(p.a.)1, 2

Apr 30, 2030
(6.0 years)

Lump-sum
repayment

NoThe interest payment date is the final day of every third month following the firstinterest payment date (the first payment date will be July 30, 2024 and the last
payment date will be the same as the principal repayment date). In the event theinterest payment date is not a business day, payment shall be made on the following
business day. If the following business day falls into the following month, payment
shall be made on the previous business day.

12

Ichigo Hotel will also execute an interest rate swap on Term Loan 31, and will
announce the swap interest rate after it is determined.

Note: The base rate for the loans will be JPY TIBOR as published by the Japanese
Bankers Association (JBA) two business days before each interest payment date. For
current JPY TIBOR rates, please visit the JBA’s website:www.jbatibor.or.jp/english/rate
3. Existing Loan Being Repaid
Term Loan 10
Loan Date

Lenders

Apr 25, 2019

SMBC
Mizuho BankSBI Shinsei
BankResona Bank
Nishi-Nippon
City Bank

LoanAmount(JPY million)

InterestRate

RepaymentDate(Loan Term)Repayment
Terms

Collateralized

2,220

1M JPY
TIBOR+0.60%(p.a.)

Apr 30, 2024
(5.0 year)

Lump-sum
repaymentNo

4. Earnings Impact
The impact of the new loan has already been factored into the July 2024 and January2025 fiscal period earnings forecasts presented in the March 15, 2024 release “January2024 Fiscal Period Earnings.”
5. OtherRisks related to the loan have no material impact on the “Investment Risks” describedin the latest Financial Report submitted on October 26, 2023.

2Reference: Loan and Bond Composition after New LoanOutstanding Loan and Bond Balance(JPY million)
BeforeNew Loan(A)AfterNew Loan(B)Change(B) - (A)Short-term bank loans–––

Long-term bank loans

32,47032,470–Total bank loans

32,47032,470––––32,47032,470–

Bonds
Total bank loans and bonds

Distribution of Loan Maturities per Fiscal Period
Before New Loan
■ Long-term Loans (fixed rate)(JPY million)

8,200

2,220
July
2024

3,500

3,000

January
2025

3,300

2,000
July
2025

January
2026

July
2026

January
2027

July
2027

January
2028

July
2028

January
2029

2,250
July
2029

4,500

3,500

January
2030

July
2030

January2031

After New Loan
■ Long-term Loans (fixed rate)(JPY million)■ New Loan

8,200

3,500

3,000

July
2024

January
2025

3,300

2,000
July
2025

January
2026

July
2026

January
2027

July
2027

3January
2028

July
2028

January
2029

4,500

3,500
2,220

2,250
July
2029

January
2030

July
2030

January2031