Socar Star Refinery Project Financing Completed

abarrelfullabarrelfull wrote on 09 Jun 2014 06:01
Tags: europe refinery socar turkey

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The SOCAR owned STAR Refinery Project, in Turkey has announced that financing agreements have been signed with a consortium of banks.

A total of 23 commercial banks, development banks and expert credit agencies are included in the $3.29 Billion deal. The financing is in two parts, a $2.69 Billion tranche which has a 4 year grace period and a total tenor of 18 years and a $600 million tranche, which has a grace period of 4 years and total tenor of 15 years.

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