Sabana Reit granted S$243m murabaha facilities

Singapore

SABANA Shari'ah Compliant Industrial Reit has inked a new financing arrangement with several banks for commodity murabaha facilities of up to S$243 million to refinance and roll over its existing facilities.

The new facilities will be fully utilised to refinance an existing three-year S$120 million debt and roll over a five-year commodity murabaha contract of up to S$75 million and a three-year revolving commodity murabaha facility of up to S$48 million, said the firm in an announcement.