Turkey’s Tupras woos banks and ECAs for loans

11 Nov 2011

Turkish oil refiner Tupras has completed a $2.1bn financing package, split between a term loan and export credit agency (ECA) backed loans.

It has signed a $359m seven year term loan, a $1.1bn 12 year tranche backed by Spanish ECA Cesce and a $624m 12 year tranche guaranteed by Italian ECA Sace to back contracts awarded to Italian firms. Both ECA-backed facilities and the term loan have a four year ...

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