Al Rajhi REIT signs SAR 254.5 mln loan facility with Al Rajhi Bank

21/12/2020 Argaam

Al Rajhi REIT Fund signed a SAR 254.5 million Shariah-compliant loan facility agreement with Al Rajhi Bank on Dec. 20, 2020, fund manager Al Rajhi Capital, the fund manager of Al Rajhi REIT, said in a statement to Tadawul.

 

The loan duration is five years, it added.

 

During the tenure of the loan, profit will be paid on a semi-annual basis with a bullet principal repayment at the end of the five years.

 

The facility is to refinance the existing loan tranche that matures on Dec. 20, 2020, the statement said.

 

The fund’s income-generating properties are already pledged for the existing tranche and will continue for this facility, in addition to a promissory note as guarantee.

 

The loan liability of SAR 254.5 million will continue on the financial accounts of Al Rajhi REIT Fund for the next five years.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.