SASCO secures SAR 151.8 mln Murabaha facility from NCB

25/08/2015 Argaam

Saudi Automotive Services Company (SASCO) said it signed a SAR 151.83 million Islamic Murabaha facility with the National Commercial Bank on Tuesday.

 

The facility includes a SAR 101.13 million loan with a seven-year term which is payable in semi-annual installments, a short term loan of SAR 25.70 million, payable in one installment four months after withdrawal, and a letter of guarantee amounting to SAR 25 million, SASCO said in a statement to Tadawul.


The company plans to use the credit facility to buy new locations, build new gas stations and develop existing ones, and to boost working capital requirements. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.