Deutsche Bank supports Botaş with a landmark deal to diversify its gas supply sources
The transaction will allow the government-run natural gas importer, Botaş, to diversify its spot LNG purchases from suppliers mainly in Europe and the Middle East.
Deutsche Bank announces today the closing of a 925 million euro three year loan facility with Botaş. The loan, which can be extended in size, is guaranteed by the Ministry of Treasury and Finance and designed to finance Turkey’s leading state-owned entity Botas for its future Liquefied Natural Gas (LNG) purchases and diversify its sources of natural gas imports.
Responsible for 95% of gas supplies in Turkey, Botaş will use the facility to partially meet its LNG purchase requirements from a list of pre-agreed international natural gas suppliers based in the United States, Asia (Singapore), Europe (France, Germany, Italy, Spain, Switzerland and United Kingdom) and the Middle East (Algeria and Qatar).
Orhan Ozalp, CEO of Deutsche Bank AS Turkey said: “Deutsche Bank is proud to support Botas on the diversification of its energy imports by acting as sole lender in this strategic financing structure. The deal constitutes an important step in the ongoing development and focus of Deutsche Bank’s franchise in Turkey and confirms the bank’s continuous support and commitment to the country. Already a leader in financing a number of Turkey’s most significant infrastructure projects, Deutsche Bank has had a long-standing presence in the country and will continue to support selective projects in transport, infrastructure and energy in the future.”
Next month, Deutsche Bank will celebrate its 113th anniversary in Turkey, having opened its Istanbul branch on August 16, 1909. Today, the Corporate Bank and Investment Bank, operating within the bank’s Global Emerging Markets business unit, support the Turkish economy by offering lending and trade finance facilities to leading Turkish institutions and corporates.
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