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.
October 13, 2022
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, President & CEO
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Finance and Planning Division
TEL: +81-3-6422-0530
Notice Concerning New Loan (Refinancing)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved today on newborrowing (hereinafter called the “New Loan”), as follows.
1. Summary of the New Loan
(1) Content of the New Loan
JHR plans to substantially refinance a portion of the investment corporation bonds, which will be redeemed on
October 21, 2022 (hereinafter called the “Investment Corporation Bonds to be Redeemed”).
(2) Amount of the New Loan
JPY4,600M(3) Details of the New Loan
Name of Loan
LenderAmount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of Principal Repayment
Maturity Date
Collateral

Term Loan 78
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd.,
Sumitomo Mitsui Trust Bank, Limited, Development Bank of Japan Inc.,
Resona Bank, Limited., The Shizuoka Bank, Ltd., The Minato Bank, Ltd.
JPY4,600M
Base interest rate (JBA Japanese Yen TIBOR) + 0.50% (*)
October 20, 2022 (plan)
Individual loan contracts to be concluded on October 18, 2022 with thelenders indicated above based on the Basic Agreement concluded on
November 13, 2013 (including subsequent amendments).
The interest payment dates shall be at the end of December 2022, the end ofMarch 2023, the end of June 2023, the end of September 2023 (if thepayment date is not a business day, it shall be paid on the preceding businessday) and on the maturity date.
Lump-sum payment on the maturity date
October 20, 2023 (borrowing term: 1 year)
Unsecured/Unguaranteed1(*)

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 at 2 business days prior to preceding interest payment date (For the first interest
calculation period, two business days prior to the borrowing date). For the first and final interest calculation
period, JBA Japanese Yen TIBOR for 1 month will be applied, and for other interest calculation periods, JBA
Japanese Yen TIBOR for 3 months will be applied. Please refer to the website of JBA TIBOR Administration for
the JBA Japanese Yen TIBOR (http://www.jbatibor.or.jp/english/rate/).

2. Summary of the Investment Corporation Bonds to be Redeemed(1) Content of the redemption
In addition to the New Loan, we plan to use a portion of the funds procured through the investment
corporation bonds issued on September 20, 2022, and cash on hand as the source of funds for redemption.
(2) Total amount of the redemption
JPY6,000M(3) Scheduled date of the redemption
October 21, 2022
(4) Investment corporation bonds subject to redemption

3.

Investment corporation bonds

Fifth Unsecured Investment Corporation Bonds (with a pari passu clauselimited for between investment corporation bonds)

Date of Payment

October 23, 2015

Date of Redemption

October 21, 2022

Balance of Issued Amount

JPY6,000M

Status of the Interest Bearing Debt after redemption of Investment Corporation Bonds to be Redeemed (plan)(Unit: millions of yen)
Category

BeforeAfterVariance

Short-term loans

30,51335,113

4,600

Long-term loans (*2)

92,21892,218-Total Loans

122,731

127,3314,600

Total investment corporation bonds

42,90036,900(6,000)Total interest-bearing debt

165,631

164,231(1,400)(*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 Loan and redemption ofInvestment Corporation bonds to be Redeemed is forecasted to be around 77%.

24. OtherWith respect to the risks of the New Loan, no important change is required for the “Investment Risks” in theSecurities Report submitted on March 24, 2022 and Semi-Annual Securities Report submitted on September 21,2022.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en3