Al Rajhi Capital announces the occurrence of a specific event related to Al Rajhi REIT Fund (availed SAR 600 Million Shariah compliant facility from Al Rajhi Bank)
Al Rajhi Capital, in its capacity as the manager of the Al Rajhi REIT Fund, announces the completion of the process of increasing the limit of the shariah compliant facilities granted to the fund Dated 24/1/2022 G corresponds 21/6/1443 H to by Al Rajhi Bank to an amount of 600,000,000 Saudi Riyals.
The duration of the facility is seven years from the any drawdown, bringing the total size of the facilities granted to the fund to be 1,416,254,600 Saudi riyals including 25,000,000 Saudi riyals profit rate swap, whenever the fund decides to execute such an agreement.
Where the fund manager aims, by increasing the limit of facilities, to finance any future acquisition deals that will maximize the targeted returns for unit holders and achieve the fund’s objectives, while maintaining the upper limit of the financing ratio according to the fund’s terms and conditions 50% of the fund’s total assets according to the latest financial statements.
