ICHIGO HOTEL REIT INVESTMENT CORPORATION Make The World
More Sustainable
[Provisional Translation Only]
This English translation of the original Japanese document is provided solely for information purposes. Should there be any discrepancies between this translation and the Japanese original, the latter shall prevail.
February 22, 2022
Issuer
Ichigo Hotel REIT Investment Corporation ("Ichigo Hotel," 3463) 1-1-1Uchisaiwaicho, Chiyoda-ku,Tokyo
Representative: Osamu Miyashita, Executive Director
www.ichigo-hotel.co.jp/en
Asset Management Company
Ichigo Investment Advisors Co., Ltd.
Representative: Hiroshi Iwai, President
Inquiries: Hidehito Iwasaka, Head of Ichigo Hotel
Tel: +81-3-3502-4892
New Loan
Ichigo Hotel today decided to borrow funds via a new loan ("Term Loan 17").
1. Loan Rationale
The new loan will be used to repay an existing loan (JPY 450 million). Details of the loan to be repaid are in Section 3 below.
2. Loan Details Term Loan 17
Loan | Interest | Repayment | Repayment | ||||||||
Loan Date | Lender | Amount | Date | Collateralized | |||||||
Rate | Terms | ||||||||||
(JPY million) | (Loan Term) | ||||||||||
3M JPY | Feb 28, 2023 | Lump-sum | |||||||||
Feb 28, 2022 | SMBC | 450 | TIBOR | No | |||||||
+0.50% | (1.0 year) | repayment | |||||||||
(p.a.)1 |
1 The interest payment date is the final day of every third month following the first interest payment date (the first payment date will be May 31, 2022 and the last payment date will be the same as the principal repayment date). In the event the interest payment date is not a business day, payment shall be made on the following business day. If the following business day falls into the following month, payment shall be made on the previous business day.
Note:
The base rate for the loan will be JPY TIBOR as published by the Japanese Bankers Association (JBA) two business days before each interest payment date. For current JPY TIBOR rates, please visit the JBA's website: www.jbatibor.or.jp/english/rate
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3. Existing Loan Being Repaid Term Loan 12
Loan | Interest | Repayment | Repayment | ||||||||
Loan Date | Lender | Amount | Date | Collateralized | |||||||
Rate | Terms | ||||||||||
(JPY million) | (Loan Term) | ||||||||||
3M JPY | |||||||||||
Feb 28, 2020 | SMBC | 450 | TIBOR | Feb 28, 2022 | Lump-sum | No | |||||
+0.45% | (2.0 years) | repayment | |||||||||
(p.a.) | |||||||||||
4. Earnings Impact
There is no impact of the new loan on Ichigo Hotel's January 2022 fiscal period earnings. The impact of the new loan on Ichigo Hotel's July 2022 fiscal period earnings has already been reflected in the forecasts presented in Ichigo Hotel's September 14, 2021 release "July 2021 Fiscal Period Earnings."
5. Other
Risks related to the loan have no material impact on the "Investment Risks" described in the latest Financial Report submitted on October 27, 2021.
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Reference: Loan and Bond Composition after New Loan
Outstanding Loan and Bond Balance
(JPY million)
Before | After | Change | ||||||||||
New Loan | New Loan | |||||||||||
(B) - (A) | ||||||||||||
(A) | (B) | |||||||||||
Short-term bank loan | 7,000 | 7,000 | - | |||||||||
Long-term bank loans | 18,470 | 18,470 | - | |||||||||
Total bank loans | 25,470 | 25,470 | - | |||||||||
Bonds | 870 | 870 | - | |||||||||
Total bank loans and bonds | 26,340 | 26,340 | - | |||||||||
Distribution of Loan and Bond Maturities per Fiscal Period
Before New Loan
- Long-termLoans (fixed rate) ■ Long-term Loans (floating rate) ■ Short-term Loan ■ Bonds
8,800 | (JPY million) |
7,000 |
4,500 | 4,500 | 2,500 | |||||||||
3,000 | |||||||||||
2,220 | 500 | ||||||||||
450 | 1,800 | 2,000 | 370 | ||||||||
July | January | July | January | July | January | July | January | July | January | July | |
2022 | 2023 | 2023 | 2024 | 2024 | 2025 | 2025 | 2026 | 2026 | 2027 | 2027 |
After New Loan
■ Long-term Loans (fixed rate) | ■ New Loan ■ Short-term Loan ■ Bonds | (JPY million) | ||||||||||
8,800 | ||||||||||||
7,000 | ||||||||||||
4,950 | ||||||||||||
450 | ||||||||||||
4,500 | 4,500 | |||||||||||
3,000 | 2,500 | |||||||||||
2,220 | 500 | |||||||||||
1,800 | 2,000 | 370 | ||||||||||
July | January | July | January | July | January | July | January | July | January | July | ||
2022 | 2023 | 2023 | 2024 | 2024 | 2025 | 2025 | 2026 | 2026 | 2027 | 2027 |
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Disclaimer
Ichigo Hotel REIT Investment Corporation published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 06:30:06 UTC.
