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Derayah Financial Announces Material Development Relating to Derayah REIT (Signing SR1 billion shariah-compliant facility agreement with Alrajhi Bank)

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Announcement Detail Derayah Financial announces that Derayah REIT had signed a SR1 billion Shariah-compliant facility agreement with Alrajhi Bank on Dec 5th 2018. As a security for the facility, a promissory note will be provided and properties will be pledged to Alrajhi Bank. The Fund Manager said that the facility’s tenor is 7 years where the full amount of the facility will be paid upon maturity. The profit rate on the facility will be paid on semi-annual basis on a pro rata basis depending on the drawn amount. The facility will be used to acquire new properties on behalf of Derayah REIT and the fund manager expects that the results will be positive on Derayah REIT’s financial performance. There is no related party in this transaction.

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price Net Change
8.34 0.15 (+1.83%)
Value Traded (SAR) Volume Traded
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