QInvest arranges $200mn loan for Turkish refinery

ASIF IQBAL

DOHA

TUPRAS, Turkey’s sole oil refiner, has signed a $200 million one-year loan with a group of nine Gulf-based banks.

Qinvest, Qatar’s leading investment bank, acted as sole bookrunner and structuring Advisor to Tupras, with 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.

Founded in 1983, Tupras is engaged in refining and distribution of petroleum products in Turkey and internationally.

Tupras is listed on Istanbul Stock Exchange and has a market capitalisation of $ 5.7 billion as on October 5, 2012.

The company is 49 percent owned by the public, and 51 percent by EnerjiYatirimlari, a joint venture between Koc 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.

QInvest was licensed by the Qatar Financial Centre Authority in April 2007 and is authorised by the Qatar Financial Centre Regulatory Authority. The firm has authorised capital of $1 billion and paid up capital of $750 million.

The QInvest shareholder structure includes Qatar Islamic Bank and other institutional investors, as well as prominent high net worth individuals from across the region.

The platform offers a broad range of expertise which enables QInvest to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs.

The firm’s talented team of investment bankers brings a valuable mix of both international experience and regional knowledge, enabling the firm to pursue opportunities across its chosen markets of the Middle East, Africa, Turkey, South Asia and South-East Asia.