Oryx Stainless (Thailand) Co., Ltd. has successfully finalized Thai Baht 660M revolving Borrowing Base credit facility to support the growth strategy of Oryx Stainless Group in Asia. The facility is structured as a secured Borrowing Base and is amongst the very first solutions of its innovative and flexible kind in the Thai banking market.
The Borrowing Base lending concept is an ideal match for the working capital financing of companies performing in volatile, cyclical or seasonal business contexts. Oryx Stainless intends to use the facility primarily to fund its working capital requirements for inventory purchases which vary depending on developments in the global stainless steel markets as well as fluctuations in commodity prices of underlying components such as Nickel. The Borrowing Base ensures that sufficient funding is available at any point in time, in line with business developments, to the benefit of both the company and the lenders.
The sustainable business model of zero-waste stainless steel scrap processing also makes Oryx Stainless Thailand the benchmark and lighthouse for a circular economy in South East-Asia.
