Deutsche Bank supports Botaş with a landmark deal to diversify its gas supply sources

Deutsche Bank supports Botaş with a landmark deal to diversify its gas supply sources

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 stateowned 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