Riyadh – Mubasher: Al Rajhi REIT Fund has completed the increase of the limit of the shariah-compliant facilities granted by Al Rajhi Bank to SAR 600 million.
The seven-year facility has raised the total size of the facilities granted to the fund to SAR 1.416 billion, including a SAR 25 million profit rate swap, according to a bourse filing on Tuesday.
This step aims to finance any future acquisitions that will raise the targeted returns for unitholders and achieve the fund’s objectives.
Meanwhile, the upper limit of the financing ratio will be maintained as per the fund’s terms and conditions at 50% of its total assets based on the latest financial statements.
