SASCO board approves early repayment of SAR 300 mln from existing loans

SASCO service station

Saudi Automotive Services Co.’s (SASCO) board of directors approved on March 5 the early repayment of a part of the outstanding loans.

The company will repay SAR 300 million, representing 18.8% of total outstanding loans balance, through its own resources during Q2 2023, SASCO said in a statement on Tadawul.

The step is part of the company's plan to cut loans, which will contribute positively to reducing financing cost and improving SASCO’s financial efficiency, the statement added.