Saudi Arabia’s Bena Steel Industries Company finalized a credit facility agreement with Saudi National Bank (SNB) worth SAR 75 mln (USD 20 mln).
The company intends to utilize this loan to finance its working capital needs, as disclosed in the bourse filing.
The facility deal is backed by a promissory note valued at SAR 82.50 mln (USD 22 mln) and has a maturity period of 329 days.
Bena Steel Industries, headquartered in Dammam, began its operations in 1993 as a coil service center. Over the years, it has evolved into the largest center for cut-to-length flat products and slitting of ferrous and non-ferrous coils in Saudi Arabia. BSI has expanded its operations into steel fabrication, metal forming, and tube manufacturing. 
1 USD / 3.75 SAR
