December 26, 2017 / 5:22 AM / 6 months ago

BRIEF-Mulkia REIT Signs 300 MLN Riyals Islamic Facilities With Bank Albilad

Dec 26 (Reuters) - MULKIA GULF REAL ESTATE REIT FUND IPO-MGRF.SE:

* SIGNS 300 MILLION RIYALS ISLAMIC FACILITIES WITH BANK ALBILAD FOR 5 YEARS WITH MURABAHA RATE OF 2.25 PERCENT + SAIBOR 6 MONTHS

* 77 MILLION RIYALS OF FINANCING WILL BE USED TO COMPLETE ACQUISITION OF 76 PERCENT STAKE IN VIVIENDA VILLA HOTEL VILLAS PROJECT

* FINANCING IS PROVIDED BY GUARANTEEING REAL ESTATE MORTGAGES WITH COVERAGE MARGIN OF 175 PERCENT PLUS A PAYMENT ORDER

* FUND AIMS TO FINANCE EXPANSION PLAN OF CO THROUGH ACQUISITION OF INCOME-GENERATING PROPERTIES IN SAUDI Source text for Eikon: Further company coverage:

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