Financed ProjectsOPET

Identification Code:

OP/02/0322

Total Operation Cost:

0

Maturity:

72 months

Operation Status:

Description and Purpose of the Operation:

OPET Petrolculuk A.S. is a privately owned Turkish company active in the distribution and marketing of refined petroleum products and lubricants in Turkey. The Company operates more than 1,100 retail gas stations under the OPET and SUPNET brands. BSTDB provides USD 21 million long-term corporate loan to OPET. The proceeds of the loan will be utilized for the financing of OPET retail network expansion programme. BSTDB's loan is for a term of 6 years.

Countries of Operation:

Türkiye (100,00 %)

Financial Product:

Loans

Sector:

Consumer Discretionary

Domain:

Private

Borrower/Client:

OPET Petrolculuk A.S.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The retail network expansion, as an objective of BSTDB financing, is a key strategic initiative in shifting OPET's business mix from the commercial and industrial segment towards retailing business. BSTDB financing will assist OPET in boosting its retail and non-fuel retailing business and give an impetus to further expansion in the Black Sea region. It has also an opportunity to create new employment and generate taxes.

Environmental Classification and Impact (summary):

The Project is in compliance with the Bank's Environmental Policy.

Operation Leader:

Energy & Infrastructure

E-mail:

ei@bstdb.org