SAPTCO inks SAR 46.6 mln murahaba deal with SABB

05/04/2017 Argaam

Saudi Public Transport Co. (SAPTCO) on Wednesday signed a murabaha financing agreement worth SAR 46.6 million with the Saudi British Bank (SABB), the transport company said in a statement to Tadawul.

 

SAPTCO took the loan against promissory notes and will use the amount to purchase 124 buses of the latest model.

 

The three-year murabaha facility will be repaid in monthly installments with the first installment due one month after receipt of the loan.

 

In December 2016, SAPTCO had signed a SAR 112.7 million deal to strengthen its fleet with 300 new buses, Argaam reported earlier. 

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