Turkish oil refiner agrees $1B bond issuance
- Bond to be sold outside Turkey through one or more issuances

Turkey’s only oil refiner, TUPRAS, applied for the issuance of bond and debt securities to Capital Markets Board for up to $1 billion, TUPRAS announced Monday.

The board of directors of TUPRAS, which operates four refineries in Turkey, agreed to grant the company management the authority to issue debt securities for a total amount up to $1 billion or an equivalent foreign currency amount within one year.

The bond will be sold outside Turkey through one or more issuances, "with various terms to be determined under the market conditions on the date of the issuance," the company said.

The company management will determine the sale and terms of the debt instruments to be issued according to the market conditions as per the date of the sale.

By Zeynep Beyza Kilic

Anadolu Agency


17 Jul,2017