Saptco inks SAR 61.8 mln ​credit deal with Al-Rajhi

06/05/2015 Argaam

Saudi Public Transportation Company (SAPTCO), which provides local inter-city transportation services in the kingdom, signed on Tuesday a SAR 61.8 million Murabaha facilities agreement with Al-Rajhi bank.

The amount will go towards the purchase of 150 new buses, the company said in a filing to Tadawul.

The facilities are covered by a promissory note from SAPTCO and will be repaid over three years in monthly installments. The first payment is due one month after the initial withdrawal, the company added.

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