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.
December 22, 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 December 30, 2020 (hereinafter called the “Loan
Scheduled for Repayment”).
2. Details of the New Loans(1) Total Amount of the New Loans
JPY935M(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 68
MUFG Bank, Ltd.
JPY935M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.50% (*1)
December 30, 2020 (plan)
Individual loan contracts to be concluded on December 28, 2020 with thelender indicated above based on the Basic Agreement concluded on
November 13, 2013 (including subsequent amendments).
The first interest payment date is the end of January 2021. 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 dateJune 30, 2021 (borrowing term: 6 months)
Unsecured/Unguaranteed1(*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
JPY935M(3) Scheduled date of the repayment
December 30, 2020
(4) Details of the subject individual loan
Loan

Term Loan 8Lenders

MUFG Bank, Ltd.

Date of borrowing

December 30, 2014

Maturity date

December 30, 2020

Borrowing balance

JPY935M

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

BeforeAfterVariance

Short-term loans

11,847

12,782+935

Long-term loans (*2)

115,307114,372(935)

Total Loans

127,154

127,1540

Total investment corporation bonds

41,60041,6000

168,754

168,7540

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 91%.

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).
2

6. Other
With 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 and Midterm Securities Report submitted on September 24, 2020.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3