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.
March 21, 2024
REIT Issuer:
Japan Hotel REIT Investment Corporation (TSE code: 8985)
Kaname Masuda, Executive Director
Asset Management Company:
Japan Hotel REIT Advisors Co., Ltd.
Hiroyuki Aoki, President and CEO
Contact:
Makoto Hanamura
Director of the Board, Managing Director
Head of Finance and Planning Division
TEL: +81-3-6422-0530
Notice Concerning New Loans (including Refinancing with Green Loan)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved today on new
borrowing including Green Loan (hereinafter called the “New Loans”) for the purpose of refinancing the existing loans.
1. Summary of the New Loans(1) Content of the New LoansJHR plans to refinance the existing loans due on March 29, 2024 (hereinafter called the “Loans Scheduled forRepayment”).
(2) Details of the New Loans
Name

Term Loan95

Lender

SBI Shinsei Bank, Limited

Term Loan96

Sompo Japan Insurance Inc.

Term Loan
97

Development Bank ofJapan Inc.,SBI Shinsei Bank, Limited,
Sumitomo Mitsui BankingCorporation,
Sumitomo Mitsui Trust
Bank, Limited,
Resona Bank, Limited,
The Nishi-Nippon City
Bank, Ltd.

Amount of
New Loan(JPY MM)Interest Rate
(*1)

3,000

Base interest rate
+ 0.25%1,000

To be determined(fixed)
(*2)

4,050

Base interest rate
+ 0.40%(*3)

1

Scheduled
Borrowing
Date

Maturity
Date

Collateral/
Method ofPrincipal
Repayment

March 29, March 31,
2024
2025

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date

March 29, March 31,
2024
2027

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date

March 29, March 31,2024
2027

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date

NameLender

Term Loan
98

Sumitomo Mitsui Banking
Corporation,
SBI Shinsei Bank, Limited,
Resona Bank, Limited,
Sumitomo Mitsui Trust
Bank, Limited,
The Chiba Bank, Ltd.

Term Loan99

MUFG Bank, Ltd.

Term Loan
100

Sumitomo Mitsui Banking
Corporation,
Resona Bank, Limited,
Sumitomo Mitsui Trust
Bank, Limited,
SBI Shinsei Bank, Limited,
The Chiba Bank, Ltd.,
Mizuho Bank, Ltd.,The Bank of Fukuoka, Ltd.

Term Loan
101
Green Loan(*4)

Sumitomo Mitsui Banking
Corporation,
Mizuho Bank, Ltd.,SBI Shinsei Bank, Limited,
Sumitomo Mitsui TrustBank, Limited,Kansai Mirai Bank,Limited,
The Hokuriku Bank, Ltd.,The Minato Bank, Ltd.,
Aozora Bank, Ltd.

Amount of
New Loan(JPY MM)Interest Rate
(*1)

4,000

Base interest rate
+ 0.50%(*3)

800

To be determined(fixed)(*2)

14,839Base interest rate
+ 0.55%
(*3)

3,300

Base interest rate
+ 0.55%(*3)

Scheduled
Borrowing
Date

Maturity
Date

Collateral/
Method ofPrincipal
Repayment

March 29, March 30,
2024
2029

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date

March 29, March 30,
2024
2029

Unsecured/
UnguaranteedLump-sum
payment on thematurity date

March 29, March 29,
2024
2030

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date

March 29, March 29,
2024
2030

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date(*1) The first interest payment will be due on the last day of April 2024, and subsequent interest payments will be due on the last day of eachmonth thereafter (or the immediately preceding business day if that day is not a business day) and the maturity date.
The base interest rate for the calculation period of the interest to be paid on the interest payment date will be the 1-month JBA Japanese
Yen TIBOR as of two business days prior to the immediately preceding interest payment date (excluding interest rates to be determined).
Please refer to the website of the JBA TIBOR Administration for the JBA Japanese Yen TIBOR (http://www.jbatibor.or.jp/english/rate/).
(*2) The interest rates to be determined will be announced once they are determined.
(*3) For Term Loans 97, 98, 100 and 101, JHR plans to conclude interest rate swap contracts to fix the interest rate. Further details will beannounced once they are determined.
(*4) Term Loan 101 will be borrowed as a green loan under the Green Finance Framework formulated by JHR in January 2024. The loan will
be used to partially fund the repayment of borrowings (including borrowings from subsequent refinancing) for acquiring Uan kanazawa
and Hilton Tokyo Odaiba, green buildings that meet the Eligibility Criteria.
For details on the Green Finance Framework, please refer to the press release dated January 31, 2024, titled "Notice ConcerningFormulation of Green Finance Framework and Acquisition of Green Finance Framework Evaluation."

2. Summary of Loans Scheduled for Repayment(1) Summary of Repayment

JHR plans to repay the loans using the New Loans.

(2) Amount of Repayment
JPY30,989MM(3) Scheduled Repayment Date
March 29, 20242

(4) Details of the Loans Scheduled for Repayment
Name

LenderLoan Balance before
Repayment(JPY MM)

Borrowing Date

Maturity Date

Term Loan
22-1

Sumitomo Mitsui Banking
Corporation,
Mizuho Bank, Ltd.

2,100

March 28, 2016

March 29, 2024

Term Loan
22-2

The Nomura Trust and BankingCo., Ltd,The Chiba Bank, Ltd.,
Development Bank of Japan Inc,
The Bank of Fukuoka, Ltd.

2,536

March 31, 2016

March 29, 2024

Term Loan
24

Sumitomo Mitsui Trust Bank,Limited.

800

March 31, 2016

March 29, 2024

Term Loan
25

Development Bank of Japan Inc.

500

March 31, 2016

March 29, 2024

Term Loan
43

Sumitomo Mitsui Banking
Corporation,
SBI Shinsei Bank

4,000

November 15, 2017

March 29, 2024

Term Loan
53

The Bank of Fukuoka, Ltd.,The Chiba Bank, Ltd.,The Nishi-Nippon City Bank, Ltd.,
Sompo Japan Insurance Inc.

2,500

April 8, 2019

March 29, 2024

Term Loan
79

Sumitomo Mitsui Banking
Corporation,
SBI Shinsei Bank, Limited,
Sumitomo Mitsui Trust Bank,Limited,
Resona Bank, Limited,
Aozora Bank, Ltd.

2,985

January 31, 2023

March 29, 2024

Term Loan
82

Sumitomo Mitsui Banking
Corporation,
SBI Shinsei Bank, Limited,
Sumitomo Mitsui Trust Bank,Limited,
Resona Bank, Limited,
The Chiba Bank, Ltd.,The Minato Bank, Ltd.

14,768March 31, 2023

March 29, 2024

Term Loan
94

Kansai Mirai Bank, Limited,
The Hokuriku Bank, Ltd.

800

January 31, 2024

March 29, 2024

3

3. Status of the Interest-bearing Debt After the New Loans (scheduled)CategoryBefore(Unit: JPY MM)
After

Variance

Short-term loans

15,568-(15,568)

Long-term loans (*2)

122,763

138,331

15,568

Total loans

138,331

138,331-

Total investment corporation bonds

36,90036,900-Total interest-bearing debt

175,231

175,231-(*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 be around74%.
4. Other
For the risks of the New Loans, please refer to the section “Investment Risk” in the Securities Report submitted
today (Japanese only).
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en/4