Bonyan REIT inks SAR 500M credit facility deal with Alinma Bank

Bonyan REIT Fund inked a Shariah-compliant credit facility deal worth SAR 500 million with Alinma Bank, fund manager Saudi Fransi Capital said in a statement to Tadawul.

The agreement runs for seven years, with margins paid quarterly, beginning with a cash withdrawal for a property purchase by the fund. The entire payment will be settled in lump sum upon maturity.

The fund manager expects the agreement to reflect positively on Bonyan REIT.

These credit facilities aim to finance the fund's expansion plans through the acquisition of income-generating real estate assets located across the Kingdom.