Riyad REIT Fund — Capital/Financing Update 2020

Dec 9, 2020

Riyad Capital announces the occurrence of a specific event in Riyad REIT (Signing SAR 540 million Shariah-compliant facility agreement with Riyad Bank)

4330 · 09/12/2020 15:33:29 · Announcement #61313 · View on Saudi Exchange

Riyad Capital announces the occurrence of a specific event in Riyad REIT (Signing SAR 540 million Shariah-compliant facility agreement with Riyad Bank)

4330

RIYAD REIT

-2.71 %

1442/04/24     09/12/2020 15:33:29

Element List	Explanation
Description of the Event	Riyad Capital (“the Fund Manager”) announces that Riyad REIT had signed a SAR 540 Million Shariah-compliant facility agreement with Riyad Bank. As a security for the facility, a promissory note will be provided and income-generating properties will be pledged. Loan duration is 5 years extendable to an additional 3 years. The facility amount will be paid once after 5 years from each withdrawal.
The Impact Caused by the Event	The facility will be used to finance acquisitions of new properties, investments and projects on behalf of Riyad REIT, and the fund manager expects that the results will be positive on Riyad REIT’s financial performance.

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