Gemlik Gubre Sanayii A.S.

Gemlik Gubre Urea Plant - UKEF/SACE Covered Loan

Industry
Chemicals/Petrochemicals/Fertilisers
Area of finance
Project & Infrastructure Finance
Region
Europe
Countries
Turkey

Deal Overview

EUR 284,208,295.28 financing comprising of two separate, SACE and UKEF covered facility agreements and one commercial facility agreement under one common terms agreement with Gemlik Gübre Sanayii A.Ş. to finance the upgrade of the borrower's existing ammonia plant the construction of a urea...

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EUR 284,208,295.28 financing comprising of two separate, SACE and UKEF covered facility agreements and one commercial facility agreement under one common terms agreement with Gemlik Gübre Sanayii A.Ş. to finance the upgrade of the borrower's existing ammonia plant the construction of a urea plant to be developed by the Borrower with an estimated capacity of 1,640 mtpd to be located in Gemlik in Turkey pursuant to the supply of equipment and services from Italy and the United Kingdom.


The financing involves three groups of lenders: ECAs, international banks and local commercial banks. Due to this layered structure, we will be drafting several separate loan agreements, commercial terms agreement and establish an intercreditor structure ensuring enforcement of the layered position of each lender


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Deal Volume
$316.49m
Financial Close
26 July 2022
Sources
Submitted by participant(s), Press release

All Dealmakers

Tiziano Tallarida

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Kathrin Marchant

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Ayesha Waheed

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Daniela Mohtadi

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Marta Zuliamis

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Eugene Kock

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Tranches


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Projects

Gemlik Gubre Urea Plant

Greenfield
Fertilisers
Europe
Turkey
$316.49m