SAPTCO secures SAR 137 mln murabaha financing from Al Rajhi

13/05/2018 Argaam

 

Saudi Public Transport Co. (SAPTCO) has signed a SAR 136.6 million Murabaha financing agreement with Al Rajhi Bank to purchase 350 buses, the company said in a statement on Tadawul.

 

The financing is covered by a promissory note and will be repaid in monthly installments for five years, the first of which will be due one month after the first withdrawal date.

 

SAPTCO in December signed two contracts to purchase 350 buses at a total value of SAR 136.6 million, including technical maintenance, Argaam previously reported.

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