Riyadh - Mubasher: Al Rajhi Capital, the fund manager of Al Rajhi REIT Fund, inked Shariah-compliant financing facilities totaling SAR 2.50 billion with Al Rajhi Bank and Saudi Awwal Bank (SAB).
The fund secured SAR 1.75 billion from Al Rajhi Bank and SAR 750 million from SAB, according to a bourse filing.
Meanwhile, the Al Rajhi Bank facility has a seven-year tenure from each drawdown, while the SAB facility has a five-year term.
The facilities will be used to refinance existing obligations and support potential acquisitions.
This is expected to enhance returns for unit holders while maintaining the financing cap at 50% of the fund’s total assets.
