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Announcement by Saudi Economic and Development Securities Company (SEDCO Capital) Regarding the Occurrence of a Specific Event in the SEDCO Capital REIT Fund (Signing a Facility agreement with Al-Jazira Bank)
| Element List | Explanation |
|---|---|
| Introduction | Saudi Economic and Development Securities Company (“SEDCO Capital”), in its capacity as the Fund Manager of SEDCO Capital REIT Fund, announces the signing of shariah-compliant facility agreement with its strategic partner (Al-Jazira Bank), according to the following |
| Description of the Event | The agreement is signed with a financing limit of SAR of SAR 1,716,000,000, will be divided as follows SAR 800,000,000 will be used for the purpose of refinancing the currently drawn facility SAR 375,000,000 is available to the Fund Manager to be utilized for the Fund's investment objectives SAR 541,000,000 will be activated after increasing the total value of the Fund’s assets and obtaining the Capital Market Authority approval The Fund Manager succeeded in obtaining a profit margin for the facilities less by approximately 30% compared to the current Fund’s facility The financing tenor is 6 years |
| The Impact Caused by the Event | The Fund Manager expects that this event will have a positive impact on the overall performance of the Fund, due to reducing the financing profit margin and increasing the possibility of acquiring new real estate assets |
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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Last Price 7.49
Net Change -0.01 (-0.13%)
Value Traded (Sar) 1,226,136.01
Volume Traded 163,764
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