Riyadh-Mubasher: Saudi Automotive Services Co. (SASCO) has finalised the procedures related to early repayment of a SAR 20 million loan to Arab National Bank (ANB).
The loan was scheduled to be paid off on 28 February 2017, the company said in a bourse statement.
The repayment has been financed from the company resources.
“The reason behind this early settlement is that the company desires to restrain the existing facilities to cope up with expansion plan, in addition to relieving its financial burdens and reducing banking charges,” the statement said.
The financial impact will materialise in the fourth quarter of 2015.
