SASCO inks SAR 150 mln finance deal with SABB

26/05/2015 Argaam

Saudi Automotive Services Co. (SASCO) said in a bourse statement it has signed a sharia-compliant credit facility with Saudi British Bank (SABB) at SAR 150 million.

 

Secured by a promissory note, the facility is effective from the day it was signed. It will be utilized before January 31, 2016.

 

The long-term loan will partially finance capex, as well as the purchase of new land plots and plants.

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