Riyadh – Mubasher: Saudi Automotive Services Co. (SASCO) said it signed on 25 May sharia-compliant credit facilities with the Saudi British Bank (SABB) worth SAR 150 million to be used before 31 January 2016 with secured promissory notes.

The deal entails a long-term loan worth SAR 100 million in addition to banking guarantees worth SAR 50 million, SASCO said, adding that this agreement aims to partially finance the capital costs as well as land purchases and building new stations.