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.
January 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 existingloans.
1. Summary of the New LoansJHR plans to refinance the existing loans, which are due on January 31, 2020 (hereinafter called the “Loans
Scheduled for Repayment”).
2. Details of the New Loans(1) Total Amount of the New Loans
JPY4,700M(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 64-1
Sumitomo Mitsui Banking Corporation
JPY1,400M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
January 31, 2020 (plan)
Individual loan contracts to be concluded on January 29, 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 February 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment dateis not a business day, it shall be paid on the preceding business day) and on
the maturity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 8 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
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
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of BorrowingInterest Payment Date

Term Loan 64-2
Shinsei Bank, Limited
JPY500M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
January 31, 2020 (plan)
Individual loan contracts to be concluded on January 29, 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 February 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment dateis not a business day, it shall be paid on the preceding business day) and onthe maturity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 8 months)
Unsecured/Unguaranteed
Term Loan 64-3
Mizuho Bank, Ltd.
JPY1,500M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
January 31, 2020 (plan)
Individual loan contracts to be concluded on January 29, 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 February 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment dateis not a business day, it shall be paid on the preceding business day) and on
the maturity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 8 months)
Unsecured/Unguaranteed
Term Loan 64-4
Sumitomo Mitsui Trust Bank, Limited
JPY500M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
January 31, 2020 (plan)
Individual loan contracts to be concluded on January 29, 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 February 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment date2

is not a business day, it shall be paid on the preceding business day) and on
the maturity date.
Method of Principal
Prepayment
Maturity Date
Collateral
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
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
CollateralLump-sum payment on the maturity date
September 30, 2020 (borrowing term: 8 months)
Unsecured/Unguaranteed
Term Loan 64-5
Resona Bank, Limited,
JPY500M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
January 31, 2020 (plan)
Individual loan contracts to be concluded on January 29, 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 February 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment dateis not a business day, it shall be paid on the preceding business day) and on
the maturity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 8 months)
Unsecured/Unguaranteed
Term Loan 64-6
The Chiba Bank, Ltd.
JPY300M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.275% (*1)
January 31, 2020 (plan)
Individual loan contracts to be concluded on January 29, 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 February 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment dateis not a business day, it shall be paid on the preceding business day) and on
the maturity date.
Lump-sum payment on the maturity date
September 30, 2020 (borrowing term: 8 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 be
JBA 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3. Summary of the Loans Scheduled for Repayment(1) Summary of the repayment
JHR plans to repay the loans with using the New Loans.
(2) Total amount of the repayment
JPY4,700M(3) Scheduled date of the repayment
January 31, 2020
(4) Details of the subject individual loanLoan

Term Loan 10Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited, Mizuho
Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, Resona Bank,Limited, The Chiba Bank, Ltd.
January 30, 2015
January 31, 2020
JPY4,700M

Lenders
Date of borrowing
Maturity date
Borrowing balance

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

BeforeShort-term loans(Unit: millions of yen)

AfterVariance

0

4,700

+4,700127,154

122,454(4,700)Total Loans

127,154

127,1540

Total investment corporation bonds

41,60041,6000168,754

168,754

0Long-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 Loans, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 20, 2019 and the Semiannual Securities Report (Japanese only) submitted on
September 18, 2019.
* Website of Japan Hotel REIT Investment Corporation: http://www.jhrth.co.jp/en4