| Element List | Explanation |
|---|---|
| Description of the Event | MEFIC Capital, in its role as the Fund Manager for MEFIC REIT, announces that the Fund has entered into a Shariah-compliant financing facility agreements. The fund manager has signed a financing facility agreement amounting to 400 million riyals with Saudi Awwal Bank for a tenure of seven years. This facility will be utilized to repay the existing facilities of the fund, which total 347.5 million Saudi riyals, due to the imminent expiration of the previous agreement with Riyad Bank. |
| The Impact Caused by the Event | The Fund Manager aims to reduce the cost of debt and extend the duration of the financing facilities and anticipates a positive impact from the agreement. |
