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.
June 23, 2020
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, Representative Director and President
Contact:
Makoto Hanamura
Executive Director
Head of Planning Group, Operations Division
TEL: +81-3-6422-0530
Notice Concerning New Loans (Refinancing)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved as below
today on new borrowings (hereinafter called the “New Loans”) for the purpose of refinancing of the existingloan.
1. Summary of the New LoansJHR plans to refinance the existing loan, which is due on June 30, 2020 (hereinafter called the “Loan Scheduled forRepayment”).
2. Details of the New Loans(1) Total Amount of the New Loans
JPY1,092M(2) Details of the New Loans
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of PrincipalPrepayment
Maturity Date
Collateral

Term Loan 65-1
Sumitomo Mitsui Banking Corporation
JPY100M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
June 30, 2020 (plan)
Individual loan contracts to be concluded on June 26, 2020 with the lenderindicated above based on the Basic Agreement concluded on November 13,
2013 (including subsequent amendments).
The first interest payment date is the end of July 2020. Subsequent interest
payment dates shall be at the end of each month (if the payment date is not abusiness day, it shall be paid on the preceding business day) and on thematurity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 3 months)
Unsecured/Unguaranteed1Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of Principal
Prepayment
Maturity Date
Collateral

Term Loan 65-2
The Hiroshima Bank Ltd.
JPY992M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
June 30, 2020 (plan)
Individual loan contracts to be concluded on June 26, 2020 with the lenderindicated above based on the Basic Agreement concluded on November 13,2013 (including subsequent amendments).
The first interest payment date is the end of July 2020. Subsequent interest
payment dates shall be at the end of each month (if the payment date is not abusiness day, it shall be paid on the preceding business day) and on thematurity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 3 months)
Unsecured/Unguaranteed(*1) 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 1 month 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/).

3. Summary of the Loan Scheduled for Repayment(1) Summary of the repayment
JHR plans to repay the loan with using the New Loans.
(2) Total amount of the repayment
JPY1,092M(3) Scheduled date of the repayment
June 30, 2020
(4) Details of the subject individual loanLoanTerm Loan 15Lenders

Sumitomo Mitsui Banking Corporation, The Hiroshima Bank Ltd.

Date of borrowingSeptember 30, 2015

Maturity dateJune 30, 2020

Borrowing balance

JPY1,092M

2

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

BeforeShort-term loans

AfterVariance

4,700

5,792

+1,092

122,454

121,362(1,092)

Total Loans

127,154

127,1540

Total investment corporation bonds

41,60041,6000

168,754

168,7540Long-term loans (*2)

Total interest-bearing debt(*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 Loans is forecasted to bearound 95%.
5. Future Prospects
The impact is subtle, and no change is required for the operating forecast for the fiscal year ending December 2020
(January 1, 2020 through December 31, 2020).

6. OtherWith respect to the risks of the New Loan, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 27, 2020.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3