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.

November 25, 2021
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 decided today to borrow funds via a new loan (“Term Loan 16”).
1. Loan Rationale
The new loan will be used to repay an existing loan (JPY 7,000 million). Details of theloan to be repaid are in Section 3 below.
2. Loan Details
Term Loan 16
Loan Date

Lenders

Nov 30, 2021

SMBC
Mizuho Bank
Shinsei Bank
Resona Bank

1Loan
AmountInterest Rate(JPY million)

RepaymentDate(Loan Term)

Repayment
CollateralizedTerms

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

Nov 30, 2022
(1.0 year)

Lump-sum
repayment

7,000

The interest payment date is the final day of every third month following the firstinterest payment date (the first payment date will be February 28, 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/rate

1No3. Existing Loan Being Repaid
Term Loan 15
Loan Date

Lenders

Nov 30, 2020

SMBC
Mizuho Bank
Shinsei Bank
Resona Bank

LoanAmountInterest Rate
(JPY million)
7,000

RepaymentDate(Loan Term)

3M JPY TIBOR Nov 30, 2021
+0.45% (p.a.)(1.0 year)

Repayment
CollateralizedTerms
Lump-sum
repayment

4. Earnings Outlook
The impact of the new loan on Ichigo Hotel’s January 2022 and 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. Other
Risks related to the loan have no material impact on the “Investment Risks” describedin the latest Financial Report submitted on October 27, 2021.

2No

Reference: Loan and Bond Composition after New Loan
Outstanding Loan and Bond Balance(JPY million)
BeforeNew Loan(A)After
New Loan(B)Change(B) - (A)Short-term bank loan7,000

7,000–

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

7,000
4,500

January
2022

450

1,800

July
2022

January
2023

July
2023

2,500
500

4,500
2,220
January
2024

July
2024

3,000
January
2025(JPY million)

2,000
July
2025

January
2026

July
2026

After New Loan

370
January2027

July2027(JPY million)
8,800■ Long-term Loans (fixed rate) ■ Long-term Loans (floating rate)■ Bonds ■ New Loan

7,000

4,5000January2022

450

1,8000
July
2022

January
2023

2,220
July
2023

2,500
500

4,500

January
2024

July
2024

3

3,000
January2025

370

2,0000July
2025

0January
2026

July
2026

0
January2027

0
July2027