Huge borrowing decision from Tüpraş!


Tüpraş Türkiye Petrol Rafinerileri A.Ş. In the notification made by (TUPRS) to the Public Disclosure Platform (KAP) on 10 November 2023, a statement was made about preparing a decision on the issuance of debt instruments domestically.

Issuing debt instruments is a method frequently used by companies to meet their cash needs. Especially today, when access to credit is difficult and expensive, companies try to make their cash needs cheaper by issuing debt instruments such as bills/bonds at lower costs. Such practices are important for the continuity of the company’s cash flow.

In the statement, it was stated that the Board of Directors decided to issue debt instruments in Turkish Lira on 10.11.2023 with an amount of up to 10,000,000,000 TL in various maturities up to 5 years and to make the necessary applications, and the following expressions were used;

By your Installation Management on 10.11.2023, pursuant to Article 8 of the System Articles of Association, in accordance with the provisions of the Capital Markets Board’s Debt Instruments Communiqué (VII-128.8) and other relevant legislation; The program is for the issuance of Bonds and/or Financial Bills of up to 10,000,000,000 TL in various maturities up to 5 years, in Turkish Lira, one or more times, to be sold domestically, without public offering, to be accumulated at a cost and/or cost; It was decided to apply to the Capital Markets Board for approval of the potential issue document. Within the scope of this decision, an application will be made to the Capital Markets Board requesting approval of the issue document.

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