Qatari investment bank QInvest has arranged a $200mn syndicated loan for Turkiye Petrol Rafinerileri (Tupras), Turkey’s sole refining company. The loan, QInvest said on 22 October, is for one year and is syndicated to eight additional Gulf banks. QInvest acted as sole bookrunner and structuring advisor to Tupras and along with Qatar Islamic Bank, Barwa Bank, Commercial Bank of Qatar and First Gulf Bank participated as mandated lead arranger. Lead arrangers included Ahli United Bank, Al Hilal Bank, Doha Bank and Dubai Islamic Bank.

The purpose for the loan was not disclosed. Tupras also announced that it plans to issue a $1bn bond. It has appointed Citigroup, Deutsche Bank and Mitsubishi UFJ Securities as bookrunners, according to Reuters. (CONTINUED - 284 WORDS)