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BRIEF-Saudi Automotive Services renews and rescheduls bank facility agreement with Saudi France Bank
May 18, 2017 / 5:38 AM / 2 months ago

BRIEF-Saudi Automotive Services renews and rescheduls bank facility agreement with Saudi France Bank

1 Min Read

May 18 (Reuters) - Saudi Automotive Services Co:

* Announces renewal and rescheduling bank facility agreement with Saudi France Bank

* Value of rescheduled amounted by 224.7 million riyals and re-scheduled portion amounted by 44.9 million riyals

* Facilities amounting to 439.3 mln riyals including re-scheduled loan

* Reasons for scheduling payment of outstanding portion of loan are due to restructuring of existing facilities in line with co's expansion plan

* Facility payment scheduled extends to Dec 31, 2022

* Purpose of financing is to finance land purchase , construction of new plants,improvement and development of existing fuel stations Source text for Eikon: Further company coverage:

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