Riyad REIT signs SAR 600 mln facility deal with Riyad Bank

07/03/2019 Argaam

 

Riyad REIT has inked a Sharia-compliant financing facility agreement with Riyad Bank at a total value of SAR 600 million, fund manager Riyad Capital said in a bourse filing.

 

The five-year facility will be directed to finance new acquisition deals, and was secured by a promissory note, in addition to a mortgage of income-yielding properties.

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