One-week sell-out for Al Rajhi Capital’s SAR 1.3 bn financing fund

Al Rajhi Capital secures SAR 1.3 bn financing fund

Al Rajhi Capital’s Indirect Financing Fund 4 was fully subscribed in just one week, raising over SAR 1.3 bn to invest in personal financing contracts from a Sama-licensed firm, according to a press release. The private closed-end fund, which secured an AA+ credit rating, is designed to provide monthly distributions over a three-year term at a medium risk level, extendable for two additional one-year periods.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Asmo breaks ground on its first purpose-built logistics hub

Asmo — the Aramco-DHL JV — broke ground on its first purpose-built logistics hub at King Salman Energy Park in partnership with Bahraini alternative investment firm Arcapita. The 1.4 mn sqm facility will serve Aramco, its affiliates, and other energy and industrial customers, with plans for a temperature-controlled grade warehouse, chemical storage, offices, staff facilities, and a large open yard for industrial handling. Acrapita will fund and own the asset, while Asmo will lead development and operation under a 22-year lease.