Deutsche Bank TAS supports landmark €925m loan facility to BOTAŞ
Deutsche Bank Trust and Agency Services (TAS) has provided facility agent services on a three-year loan facility for BOTAŞ, a state-owned gas company
The €925m loan is guaranteed by Turkey’s Ministry of Treasury and Finance and marks the first international loan for liquified natural gas (LNG) imports – diversifying BOTAŞ sources of gas supply.
Petroleum Pipeline Corporation (BOTAŞ), which is responsible for 95% of gas supplies in Turkey, will use the facility to finance future LNG purchase requirements from a list of pre-agreed international gas suppliers across the United States, Europe, Asia and the Middle East.
Jason Connery, Head of TAS, EMEA at Deutsche Bank, said, “By supporting our Turkish clients with their project finance and infrastructure-related needs, this deal highlights the TAS team’s robust and ongoing support of the global Deutsche Bank franchise.”
BOTAŞ is Turkey’s state-owned oil company. The company, which initially only transported oil through pipelines, has engaged in natural gas trading and transportation activities with the aim of meeting the increasing energy demand of the country.1
Note: Photo: LNG Plant – source BOTAŞ