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 24, 2022
IssuerIchigo Hotel REIT Investment Corporation (“Ichigo Hotel,” 3463)
1-1-1 Uchisaiwaicho, 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: +81-3-3502-4892

New LoanIchigo Hotel today decided to borrow funds via a new loan (“Term Loan 18”).
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 18
Loan Date

Lenders

Nov 30, 2022

SMBC
Mizuho Bank
Shinsei Bank
Resona Bank

1

Loan
Amount(JPY million)

InterestRate

RepaymentDate(Loan Term)

Repayment
Terms

Collateralized

7,000

3M JPYTIBOR+0.50%(p.a.)1Nov 30, 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 February 28, 2023 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

13. Existing Loan Being Repaid
Term Loan 16
Loan Date

Lenders

Nov 30, 2021

SMBC
Mizuho Bank
Shinsei Bank
Resona Bank

LoanAmount(JPY million)

InterestRate

RepaymentDate(Loan Term)

Repayment
Terms

Collateralized

7,000

3M JPY
TIBOR+0.50%(p.a.)

Nov 30, 2022
(1.0 years)

Lump-sumrepayment

No

4. Earnings Impact
The impact of the new loan on Ichigo Hotel’s January 2023 and July 2023 fiscal period
earnings has already been reflected in the forecasts presented in Ichigo Hotel’s
September 14, 2022 release “July 2022 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 26, 2022.

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 loans

7,450

7,450–

Long-term bank loans

18,02018,020–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
(JPY million)■ Long-term Loans (fixed rate) ■ Short-term Loans ■ Bonds
8,800

7,000

4,950
450
4,500

4,500
2,220

1,800
January
2023

July
2023

January
2024

July
2024

2,500
500

3,000
January
2025

2,000
July
2025

January
2026

July
2026

370
January
2027

July
2027

After New Loan(JPY million)■ Long-term Loans (fixed rate) ■ Short-term Loans ■ Bonds ■ New Loan
11,500

7,000
4,950
450

1,800
January
2023

4,500
July
2023

4,500
2,220
January
2024

July
2024

2,500
500
2,000

3,000
January
2025

30
July
2025

0
January
2026

July
2026

370
0
January2027

0
July2027