Taleem REIT secures SAR 350 mln credit from BSF

Taleem REIT Fund has signed a SAR 350 million Shariah compliant facilities agreement with the Banque Saudi Fransi (BSF), Saudi Fransi Capital, the fund manager said in a bourse statement.

The credit has a term of seven years after which the amount will be paid in full on one installment while interest will be paid quarterly starting from the credit withdrawal from the bank.

The facilities aim to finance the fund’s expansion plans through acquiring income generating real estate assets in the education sector.