– Announcement –
Alkhabeer Capital Announces the Occurrence of a Specific Event to Alkhabeer REIT Fund (“the Fund”)
Following the credit facilities agreement signed by Alkhabeer Capital (“Alkhabeer REIT Fund Manager) with Al-Rajhi Bank for an amount of SAR 1,000 million and a maturity of five years for any used amount. A total amount of SAR 737.5 million used under these facilities as follows:
- An amount of SAR 340 million for the Fund’s initial offering.
- An amount of SAR 397.5 million for the Fund’s first additional offering.
Accordingly, Alkhabeer Capital announced on 27 July 2021 that it has entered with Al-Rajhi Bank into a Profit Rate Swap Hedging Agreement to fix the profit margin of the facilities used in the first additional offering for the amount of SAR 397.5 million at a fixed rate of 4.44%. The purpose of the hedging facility is to protect the Fund from rate fluctuations during the remaining tenor of this facility, starting from 01 September 2021 until 07 September 2025.
– Ends –