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The purpose of the hedging facility is to protect Alkhabeer REIT Fund from rate fluctuations during the remaining tenor of the facility from 1 September 2021 to 7 September 2025, according to a bourse filing on Wednesday.
This announcement followed the five-year loan deal worth SAR 1 billion signed between Alkhabeer Capital and the bank.
The agreement aims to cover an amount of SAR 737.5 million used under these facilities as SAR 340 million for Alkhabeer REIT Fund’s initial offering, in addition to SAR 397.5 million for the fund's first additional offering.
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