Bena signs SAR 75 mln credit facility with SNB

24/07/2023 Argaam

Bena signs SAR 75 mln credit facility with SNB

Bena Steel Industries Co. headquarters

Bena Steel Industries Co. signed, on July 23, a Shariah-compliant credit facility agreement worth SAR 75 million with Saudi National Bank (SNB).

 

The funds will be used to finance the company’s working capital, the steel manufacturer said in a statement to Tadawul today, July 24. 

 

The facility, which is valid for 329 days, is guaranteed through a SAR 82.5 million worth of promissory note. 

 

The deal has no related parties, the statement added.

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