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Turkish refiner secures USD 200 million GCC funding

Steel News - Published on Thu, 25 Oct 2012

Trade Arabia reported that Türkiye Petrol Rafinerileri, a key player in refining and distribution of petroleum products in Turkey has signed USD 200 million, 1 year facility with a group of nine banks from the GCC region.

Qatar’s leading investment bank QInvest acted as the sole bookrunner and structuring advisor to Tüpraş. The other GCC banks involved in the deal are Qatar Islamic Bank, Barwa Bank, The Commercial Bank of Qatar and First Gulf Bank while Ahli United Bank, Al Hilal Bank, Doha Bank and Dubai Islamic Bank acted as lead arrangers.

Tüpraş is listed on Istanbul Stock Exchange and has a market capitalization of USD 5.7 billion as at 05 October 2012. The company is 49% owned by the public and 51% by EnerjiYatırımları, a JV between Koç Holding and Shell.

A leading refiner in Turkey, the company accounts for almost 60% of domestic petroleum product consumption. It is the 7th largest refinery company in Europe and has the world’s 29th largest refining capacity.

Source - Trade Arabia

(www.steelguru.com)

Posted By : admin on Thu, 25 Oct 2012
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