Hoshino Resorts REIT: Notice Regarding Entering into Interest Rate Swap Agreements







April 26, 2022

For immediate release

REIT Issuer of Securities Hoshino Resorts REIT, Inc.

Representative: Kenji Akimoto, Executive Director

(Code: 3287)

Asset management company

Hoshino Resort Asset Management Co., Ltd. Representative: Kenji Akimoto, President and CEO

Contact: Takahiro Kabuki, Director and Chief Financial Officer

TEL: +81-3-5159-6338

Notice regarding the conclusion of interest rate swap contracts

Hoshino Resorts REIT, Inc. (hereinafter referred to as “HRR”) announces that the terms of the interest rate swap agreements (hereinafter referred to as the “Interest Rate Swap Agreements”) have been decided and that he has entered into the interest rate swap agreements with respect to the borrowing of funds (Agreement No. funds (refinancing by green loans and others) and interest rate swap transactions”, ” dated April 21, 2022, as follows.

1. Details of interest rate swap contracts

(1) Contract No. 0073

Consideration

Nomura Securities Co., Ltd.

Theoretical principal

900,000,000 yen

interest rate

Fixed interest rate payable

0.2020%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

April 28, 2022

Termination date

April 30, 2025

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0073 will be practically fixed at 0.5020% through the interest rate swap agreements.

(2) Contract No. 0074

Consideration

Mizuho Bank, Ltd.

Theoretical principal

300,000,000 yen

interest rate

Fixed interest rate payable

0.2060%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

May 2, 2022

Termination date

April 30, 2025

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0074 will be practically fixed at 0.5060% through the interest rate swap agreements.

Consideration

Mizuho Bank, Ltd.

Theoretical principal

150,000,000 yen

interest rate

Fixed interest rate payable

0.2620%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

April 28, 2022

Termination date

October 30, 2026

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0075 will be practically fixed at 0.6670% through the interest rate swap agreements.

(4) Contract No. 0076

Consideration

Mizuho Bank, Ltd.

Theoretical principal

300,000,000 yen

interest rate

Fixed interest rate payable

0.2630%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

May 2, 2022

Termination date

October 30, 2026

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0076 will be practically fixed at 0.6680% through the interest rate swap agreements.

(5) Contract No. 0077

Consideration

Nomura Securities Co., Ltd.

Theoretical principal

1,250,000,000 yen

interest rate

Fixed interest rate payable

0.3295%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

April 28, 2022

Termination date

April 28, 2028

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0077 will be practically fixed at 0.9085% through the interest rate swap agreements.

(6) Contract No. 0078

Consideration

Nomura Securities Co., Ltd.

Theoretical Principal

100,000,000 yen

interest rate

Fixed interest rate payable

0.3325%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

May 2, 2022

Termination date

April 28, 2028

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0078 will be practically fixed at 0.9115% through the interest rate swap agreements.

Consideration

Mizuho Bank, Ltd.

Theoretical principal

3,000,000,000 yen

interest rate

Fixed interest rate payable

0.3570%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

April 28, 2022

Termination date

October 31, 2028

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0079 will be practically fixed at 0.9920% through the interest rate swap agreements.

(8) Contract No. 0080

Consideration

Mizuho Bank, Ltd.

Theoretical principal

150,000,000 yen

interest rate

Fixed interest rate payable

0.4140%

Variable interest rate receivable

Base interest rate (3-month JBA Japanese Yen TIBOR)

Start date

April 28, 2022

Termination date

October 31, 2029

Payment date

First payment on July 29, 2022, with subsequent payments on the last day of October, January, April and July of each year and on the date of termination

(Note) The interest rate for contract #0080 will be practically fixed at 1.1540% through the interest rate swap agreements.

For more details on the loans (contracts n° 0073, 0074, 0075, 0076, 0077, 0078, 0079 and 0080), which are the subject of the interest rate swap contracts, and the reasons for the realization interest rate swap transactions, please refer to “Notice relating to borrowing of funds (refinancing by green loans and others) and interest rate swap transactions” dated April 21, 2022.

2. Future prospects

As the impact of the conclusion of the interest rate swap agreements is minimal, there is no revision of the operating income forecasts for the financial year ending in April 2022 (November 1, 2021 to April 30, 2022) and the fiscal year ending in October 2022 (May 1, 2022 to October 31, 2022).

* HRR website address: https://www.hoshinoresorts-reit.com/en/

Warning

REIT Hoshino Resorts Inc. published this content on April 26, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Apr 26, 2022 06:29:08 UTC.

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