Saudi: Bena Steel Industries obtains $20mln financing from SNB

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The company will utilise the loan to finance its working capital

Staff Writer, Mubasher

July 25, 2023

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Riyadh – Bena Steel Industries Company inked a credit facility agreement with Saudi National Bank (SNB) at a value of SAR 75 million on 23 July 2023.

The company will utilise the loan to finance its working capital, according to a bourse disclosure.

Meanwhile, the facility deal is secured by a promissory note valued at SAR 82.50 million, with a maturity period of 329 days.

Last March, Bena Steel Industries commenced the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) under the symbol 9563.

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