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, 2024
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 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 Loan (Refinancing)
Japan Hotel REIT Investment Corporation (hereinafter called “JHR”) informs you that JHR resolved as below
today on new borrowing (hereinafter called the “New Loan”) for the purpose of refinancing the existing loans.
1.

Summary of the New Loan
(1)

Content of the New Loan
JHR plans to refinance the existing loans due on January 31, 2024 (hereinafter called the “Loans Scheduledfor Repayment”).

(2)

Details of the New Loan

Name ofLoan

Term Loan
94

LenderKansai Mirai Bank, Limited
The Hokuriku Bank, Ltd.

Amount ofNew Loan
(JPY MM)InterestRate
(*)

800

Baseinterest
rate +
0.25%

Date ofBorrowing

January31, 2024

Maturity
Date

Collateral/
Method ofPrincipal
Repayment

March29, 2024

Unsecured/
Unguaranteed
Lump-sumpayment on thematurity date(*) The interest payment will be due on the last day of February 2024 (or the immediately preceding business day if thatday is not a business day) and the principal repayment date.
The base interest rate for calculating the interest to be paid at interest payment dates will be the one-month JBA
Japanese Yen TIBOR as of two business days prior to the preceding interest payment date (For the first interest
calculation period, the one-month JBA Japanese Yen TIBOR as of two business days prior to the date of borrowing
will be applied). Please refer to the website of the JBA TIBOR Administration for the JBA Japanese Yen TIBOR(https://www.jbatibor.or.jp/english/rate/).

2.

Summary of the Loans Scheduled for Repayment(1)

Summary of the repayment
JHR plans to repay the loans using the New Loan.

(2)

Total amount of the repayment
JPY800MM(3)

Scheduled date of the repayment
January 31, 2024
1(4)

3.

Details of the subject individual loans

Name of LoanLenders

Loan Balance beforeRepayment(JPY MM)

Date of Borrowing

Maturity Date

Term Loan
81

Kansai Mirai Bank, Limited
The Hokuriku Bank, Ltd.

800

January 31, 2023

January 31, 2024

Status of the Interest-bearing Debt after the New Loan (scheduled)Category

Before(Unit: JPY MM)
AfterVariance

Short-term loans

15,56815,568－Long-term loans (*2)

122,763

122,763－

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 Loan is forecasted to be around 66%.
4.

Other
There are no material changes to the risks related to the New Loan from those described under "Investment Risks"
in the securities report filed on March 23, 2023 and in the semi-annual securities report filed on September 22, 2023.

* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en/2