Riyadh - Mubasher: Saudi Arabian Mining Company (Ma’aden) is currently seeking to refinance bank debt raised for its subsidiary Ma’aden Bauxite and Alumina Company (MBAC).

The company aims at attracting funds of nearly $1 billion, expected to be denominated in both SAR and USD, Reuters reported on Thursday citing unnamed banking sources.

Ma’aden has hired BNP Paribas and National Commercial Bank (NCB) to advise it on the fundraising.