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 20, 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”) announces that JHR resolved today to procure
funds, including a green loan (hereinafter called the “New Loans”), for the purpose of refinancing existing loans.
1. Summary of the New Loans(1) Content of the New LoansJHR plans to refinance the existing loans due on September 30, 2024 (hereinafter called the “Loans Scheduled forRepayment”).
(2) Details of the New Loans
NameLender

The Hiroshima Bank,
Term LoanLtd.,
109
The Chiba Bank, Ltd.
MUFG Bank, Ltd.,
Sumitomo Mitsui
Term Loan Banking Corporation,
110
Development Bankof Japan Inc.,
Aozora Bank, Ltd.
MUFG Bank, Ltd.,
Term Loan
Sumitomo Mitsui
111
Trust Bank, Limited,(*3)
Aozora Bank, Ltd.

Amount of
New Loan(JPY MM)Interest Rate(*1) (*2)

Scheduled
Borrowing
Date

Maturity Date

Collateral/
Method ofPrincipal
Repayment

1,600

Unsecured/
Unguaranteed
Base interest rate September 30, September 28,
Lump-sum+ 0.50%
2024
2029
payment on thematurity date

3,100

Unsecured/
Unguaranteed
Base interest rate September 30, September 30,
Lump-sum+ 0.65%
2024
2032
payment on thematurity date

1,400

Unsecured/
Unguaranteed
Base interest rate September 30, September 30,
Lump-sum+ 0.65%2024
2032
payment on thematurity date(*1) The first interest payment will be due on the last day of October 2024, and subsequent interest payments will be due on thelast day of each month thereafter (or the immediately preceding business day if that day is not a business day) and thematurity 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 (or two businessdays prior to the borrowing date as to the first interest calculation period). Please refer to the website of the JBA TIBOR
Administration for the JBA Japanese Yen TIBOR (https://www.jbatibor.or.jp/english/rate/).

1

(*2) JHR plans to conclude interest rate swap contracts to fix the interest rates on the New Loans. The details will be announced
once they are determined.
(*3) Term Loan 111 will be borrowed as a green loan under the Green Finance Framework formulated by JHR in January 2024
(revised in August). The loan will be used to partially fund the repayment of borrowings (including borrowings fromsubsequent refinancing) for acquiring Hilton Tokyo Odaiba and Mercure Okinawa Naha, green buildings that meet theEligibility Criteria.
For details on the Green Finance Framework, please refer to JHR's website below.
https://www.jhrth.co.jp/en/esg/greenfinance.html

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
JPY6,100MM(3) Scheduled Repayment Date
September 30, 2024
(4) Details of the Loans Scheduled for Repayment
NameLender

Loan Balance
before Repayment(JPY MM)

Borrowing Date

Maturity Date

Term Loan
27

Sumitomo Mitsui Trust Bank,
Limited

1,300

September 1, 2016

September 30, 2024

Term Loan
28

MUFG Bank, Ltd.

2,000

September 1, 2016

September 30, 2024

Term Loan
29

Development Bank of Japan Inc.

700

September 1, 2016

September 30, 2024

Term Loan
30

Aozora Bank, Ltd.

500

September 1, 2016

September 30, 2024

Term Loan
62

The Chiba Bank, Ltd.,The Hiroshima Bank, Ltd.

1,600

September 30, 2019

September 30, 2024

23. Status of Interest-bearing Debt after the New Loans (scheduled)Category(Unit: JPY MM)

BeforeShort-term loans

AfterVariance–––

170,331

170,331–

Total loans

170,331

170,331–

Total investment corporation bonds

34,90034,900–Total interest-bearing debt

205,231205,231–

Long-term loans (*2)(*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 (upon fixing the interest rate) isexpected to be around 74%.
4. Others
There are no material changes to the risks related to the New Loans from those described under “Investment Risks”
in the securities report filed on March 21, 2024 and in the semi-annual securities report (Japanese only) submitted
today.
* Website of Japan Hotel REIT Investment Corporation: https://www.jhrth.co.jp/en/3