Al Khabeer REIT inks hedge agreement with BSF

Al Khabeer REIT Fund has signed, on Tuesday, a Shariah compliant hedge agreement with Banque Saudi Fransi (BSF), the fund manager, Al Khabeer Capital, said in a bourse statement.

The agreement aims to stabilize the interest margin of the facilities agreement signed with Al Rajhi Bank at SAR 420 million, at a fixed rate of 4.69 percent per year, in order to protect the fund's returns from fluctuating interest margin until January 10, 2024.

In February, Al Khabeer REIT signed a facility agreement valued at SAR 420 million with Al Rajhi Bank, according to data compiled by Argaam.