MEFIC Capital Announces a Material Development to MEFIC REIT Fund

Announcement by MEFIC Capital

MEFIC Capital Announces a Material Development to MEFIC REIT Fund

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 400,000,000 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 347,500,000, 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.

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 400,000,000 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 347,500,000, 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.

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