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You are here: Home»Business»Banking & Finance»Turkey's Tupras signs $200mn loan with Gulf banks

turkey-flagDUBAI: Tupras, Turkey's sole oil refiner, signed a $200 million one-year loan with a group of nine Gulf-based banks, a statement from the facility's arranger said on Sunday.

 

The loan was arranged by Qatar-based investment bank QInvest, the statement said. No details on the facility's purpose or its pricing were given.

 

Banks which joined the loan were Barwa Bank, Commercial Bank of Qatar, First Gulf Bank, Qatar Islamic Bank, Ahli United Bank, Al Hilal Bank, Doha Bank and Dubai Islamic Bank.

 

Last week, Tupras mandated Citigroup Inc and Deutsche Bank to arrange a series of investor meetings ahead of a potential bond issue, which the firm's general manager said would be worth between $500 million and $1 billion.  

 

Copyright Reuters, 2012


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln