SAPTCO Signs Murabaha Facility Agreement with Al Rajhi Bank

23/04/2013 Tadawul

Saudi Public Transport Co (SAPTCO) announced signing Murabaha facility agreement of SAR 120.8 million with Al-Rajhi Bank on 23/04/2013.

This agreement is secured by a promissory note to finance purchasing of 250 trucks (King Long), the company said in a filing to Tadawul.
 

The company said that the finance will be repaid in monthly installments over 3 years. The first installment will be paid after one month of the first withdraw, according to the statement.

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