Derayah REIT secures SAR 1 bln Islamic facility from Al Rajhi Bank
05/12/2018
Argaam
Derayah REIT on Wednesday signed a SAR 1 billion Shariah-compliant facility agreement with Al Rajhi Bank to acquire new assets, fund manager Derayah Financial said in a bourse statement.
The loan is valid for seven years and will be repaid upon maturity date.
The accrued interest rate will be paid bi-annually on a pro rata basis, depending on the drawn amount.
“We expect the deal to reflect positively on Derayah REIT’s financial results, as no related parties are involved,” the fund manager said.
Market Indices
TASI
10,878.46
13.89
0.13 %
Quotes
ALRAJHI
66.40
1.20
1.84%
DERAYAH REIT
5.26
(0.03)
(0.57%)
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