Türkiye Petrol Rafinerileri AS (Tupras) has signed a $200m, one-year facility with a syndicate of nine banks from the GCC, including Qatar. QInvest , Qatar's leading investment bank, acted as sole book runner and structuring adviser to Tupras, with QInvest , Qatar Islamic Bank, Barwa Bank, Commercial Bank of Qatar and First Gulf Bank participating as mandated lead arrangers (MLA).
The MLAs were joined in the facility at lead arranger level by Ahli United Bank, Al Hilal Bank, Doha Bank and Dubai Islamic Bank. Tupras is engaged in refining and distribution of petroleum products in Turkey and internationally.
The firm is listed on Istanbul Stock Exchange and has a market capitalization of $5.7bn as at October 5, 2012. The company is 49 percent owned by the public and 51 percent by Enerji Yatırımları AS, a joint venture between Koç Holding and Shell.
Tupras is the leading refiner in Turkey, accounting for almost 60 percent of Turkish petroleum product consumption. The company is the seventh largest refinery company in Europe, and has the world's 29th largest refining capacity.