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.

February 22, 2022
IssuerIchigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463)
1-1-1 Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Osamu Miyashita, 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: +81-3-3502-4892

New LoanIchigo Hotel today decided to borrow funds via a new loan (“Term Loan 17”).
1. Loan Rationale
The new loan will be used to repay an existing loan (JPY 450 million). Details of the loan
to be repaid are in Section 3 below.
2. Loan Details
Term Loan 17
Loan Date

Feb 28, 2022

1Lender

SMBC

LoanAmount(JPY million)

InterestRate

RepaymentDate(Loan Term)

RepaymentTerms

Collateralized

450

3M JPYTIBOR+0.50%(p.a.)1

Feb 28, 2023(1.0 year)

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 May 31, 2022 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.

Note:
The base rate for the loan 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/rate1

3. Existing Loan Being Repaid
Term Loan 12
Loan Date

Feb 28, 2020

LenderSMBC

Loan
Amount(JPY million)

InterestRate

RepaymentDate(Loan Term)

Repayment
Terms

Collateralized

450

3M JPY
TIBOR+0.45%(p.a.)

Feb 28, 2022
(2.0 years)

Lump-sum
repaymentNo

4. Earnings Impact
There is no impact of the new loan on Ichigo Hotel’s January 2022 fiscal period
earnings. The impact of the new loan on Ichigo Hotel’s July 2022 fiscal period earnings
has already been reflected in the forecasts presented in Ichigo Hotel’s September 14,2021 release “July 2021 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 27, 2021.

2

Reference: Loan and Bond Composition after New Loan
Outstanding Loan and Bond Balance(JPY million)
BeforeNew Loan(A)AfterNew Loan(B)Change(B) - (A)Short-term bank loan

7,0007,000–

Long-term bank loans

18,47018,470–Total bank loans

25,47025,470

–

870

870

–

26,34026,340–

Bonds
Total bank loans and bonds

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

8,800
7,000

4,500

4,500
2,500
500
2,000

3,000
2,220

1,800

450
July
2022

January
2023

July
2023

January
2024

July
2024

January
2025

July
2025

January
2026

July
2026

370
January
2027

July
2027

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

8,800
7,000

4,950
450
4,500

4,500
2,500
500
2,000

3,000
2,220

1,8000
July
2022

January
2023

July
2023

January
2024

July
2024

January
2025

30
July
2025

0
January
2026

July
2026

370
0
January
2027

0
July
2027