REIT-Announcement

Addendum Announcement from Al Rajhi Capital Regarding Al Rajhi Capital Announcement about a specific event related to Al Rajhi REIT Fund
Date of the previous announcement: 22-06-1443H Corresponding to 25-01-2022G
Previous announcement link: Click Here
In addition to Al-Rajhi Capital's announcement published on 22-06-1443H corresponding to 25-01-2022G. Al Rajhi Capital, the Fund Manager of Al Rajhi REIT would like to inform the unitholders that the fund's board of directors have approved the following:

 

  1. The increase the sharia compliant facility availed from Al Rajhi Bank for the purpose of acquisition from SAR 600,000,000 to SAR 900,000,000 conditional to not exceeding 50% from the fund's total assets.
  2. Reduction of profit spread on total financing from Al Rajhi Bank, and hedging against interest rates for a facility amounting SAR 193.7 Mn. Where 50% from the total financing (Approximately SAR 448) will have a fixed cost at a rate of 4.52% until the end of 2025G.
The Impact Caused by the Event: Increase the ability to acquire assets, reduce the risk of profit rate fluctuations, where it will have a positive impact on the fund from the beginning of 2023G.