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Riyad Capital Announces the Occurrence of Specific Event to Riyad REIT Fund
| Element List | Explanation |
|---|---|
| Introduction | Riyad Capital (the "Fund Manager"), in its capacity as the Fund Manager of Riyad REIT (the "Fund"), announces the signing of an agreement to refinance the existing facility with Riyad Bank, having obtained the Fund's board approval. The new facility has a total limit of SAR 1,451 million. |
| Description of the Event | The key terms of the refinancing agreement are as follows: - Reduction of the profit margin by no less than 50% compared to the previous financing facility. - Extension of the maturity term of the facility to 7 years. |
| The Impact Caused by the Event | The Fund Manager anticipates a positive impact on Riyad REIT's financial performance as a result of the reduction in financing costs associated with this refinancing agreement. |
The Capital Market Authority and Saudi 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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Value Traded (Sar) 299,991.54
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