Alinma Retail REIT signs SAR 750 mln credit agreement with Alinma Bank to finance acquisitions

20/11/2022 Argaam

 

Alinma Retail REIT Fund signed a Shariah-compliant credit facility agreement with Alinma Bank at a total value of SAR 750 million, fund manager, Alinma Investment Co., said in a statement to Tadawul.

 

The facilities will be secured in exchange for the mortgage of income-generating real estate and a promissory note.

 

These facilities have a tenor of eight years and an interest margin of 1.3 plus three-month SAIBOR.

 

Alinma Retail REIT will use these facilities to finance the acquisitions of new assets, which are expected to have a positive impact on the fund, Alinma Investment concluded.

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