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.
September 24, 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 September 30, 2020 (hereinafter called the “Loan
Scheduled for Repayment”).
2. Details of the New Loans(1) Total Amount of the New Loans
JPY11,847M(2) Details of the New Loans
Name of Loan
Lenders
Amount of the New Loan
Interest Rate
Date of Borrowing
Method of Borrowing

Interest Payment Date
Method of Principal Prepayment
Maturity Date
Collateral

Term Loan 66
Sumitomo Mitsui Banking Corporation, Shinsei Bank, Limited, Mizuho
Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited, Resona Bank, Limited,Development Bank of Japan Inc., Aozora Bank, Ltd.
JPY11,747M
Base interest rate (JBA Japanese Yen TIBOR for one month) + 0.30% (*1)
September 30, 2020 (plan)
Individual loan contracts to be concluded on September 28, 2020 with thelenders indicated above based on the Basic Agreement concluded on
November 13, 2013 (including subsequent amendments).
The first interest payment date is the end of October 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment
date is 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, 2021 (borrowing term: 1 year)
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 67
The Chiba Bank, Ltd.
JPY100M
Not yet determined (fixed interest rate) (*2)
September 30, 2020 (plan)
Individual loan contracts to be concluded on September 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 October 2020. Subsequentinterest payment dates shall be at the end of each month (if the payment
date is 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, 2021 (borrowing term: 1 year)
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/).
(*2) The undecided items will be announced once it is determined.
(*3) With respect to the details above, it is assumed that the examination process at the financial institutions will becompleted, and it does not guarantee actual conclusions of New Loans listed above.

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
JPY11,847M(3) Scheduled date of the repayment
September 30, 2020
(4) Details of the subject individual loanLoan

Date of borrowing

Term Loan 6
Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Resona
Bank, Shinsei Bank, Limited, Sumitomo Mitsui Trust Bank,Development Bank of Japan Inc., Aozora Bank, Ltd.
September 30, 2014

Maturity date

September 30, 2020

Borrowing balance

JPY6,055M

Loan

Term Loan 64-1

LenderSumitomo Mitsui Banking Corporation

Lenders2

Date of borrowing

January 31, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY1,400M

Loan

Term Loan 64-2

Lender

Shinsei Bank, Limited

Date of borrowing

January 31, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY500M

Loan

Term Loan 64-3

LenderMizuho Bank, Ltd.

Date of borrowing

January 31, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY1,500M

Loan

Term Loan 64-4

LenderSumitomo Mitsui Trust Bank

Date of borrowing

January 31, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY500M

Loan

Term Loan 64-5

LenderResona Bank

Date of borrowing

January 31, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY500M

Loan

Term Loan 64-6

Lender

The Chiba Bank, Ltd.

Date of borrowing

January 31, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY300M

Loan

Term Loan 65-1

LenderSumitomo Mitsui Banking Corporation

Date of borrowing

June 30, 2020

Maturity date

September 30, 2020

Borrowing balance

JPY100M
3

Loan

Term Loan 65-2

Lender

The Hiroshima Bank, Ltd.

Date of borrowing

June 30, 2020

Maturity dateSeptember 30, 2020

Borrowing balance

JPY992M

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

BeforeShort-term loans

AfterVariance

5,792

11,847+6,055

121,362

115,307(6,055)

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 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).

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 and in the Semiannual Securities Report (Japanese only) submittedtoday.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en4