Saudi Economic and Development Securities Company (SEDCO Capital), in its capacity as the Fund Manager of SEDCO Capital REIT Fund, announced the signing of shariah-compliant facility agreement with its strategic partner (Al-Jazira Bank). The agreement is signed with a financing limit of SAR of SAR 1,716,000,000, will be divided as follows: SAR 800,000,000 will be used for the purpose of refinancing the currently drawn facility; SAR 375,000,000 is available to the Fund Manager to be utilized for the Fund's investment objectives; SAR 541,000,000 will be activated after increasing the total value of the Fund's assets and obtaining the Capital Market Authority approval; The Fund Manager succeeded in obtaining a profit margin for the facilities less by approximately 30% compared to the current Fund's facility; and The financing tenor is 6 years.
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