Japan Hotel REIT Investment (TYO:8985) secured new loans totaling 8 billion yen to repay existing loans set to mature on March 31, according to a Monday Tokyo bourse filing.
The refinancing consists of two distinct facilities arranged through a consortium of six major Japanese financial institutions, including Sumitomo Mitsui Banking Corp., Mizhuo Bank, and Sumitomo Mitsui Trust Bank.
The larger 4.4 billion yen tranche has been structured as a green loan with a nine-year term, carrying an interest rate of the base rate plus 0.65%.
The smaller 3.6 billion yen facility features a three-year term at a base rate plus 0.35%.
Both loans maintain JHR's unsecured and unguaranteed structure, with bullet repayments scheduled at maturity in March 2028 and March 2034, respectively.
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