SASCO signs credit facilities deal with Bank Aljazira

29/01/2019 Argaam

Saudi Automotive Services Company (SASCO) completed the signing of the new Shariah-compliant bank facilities agreement with Bank Aljazira, the company said in a statement on Tuesday.

 

The facility agreement, amounting to SAR 150 million, includes a long-term loan amounting to SAR 100 million and short term loan of SAR 5 million, in addition to letters of guarantee amounting to SAR 45 million.

 

The agreement was signed to finance buying new locations, building new fuel stations and developing the existing stations as well as financing the working capital requirements.

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