SOCAR Türkiye completed the refinancing of its long-term liabilities

SOCAR Turkey, a subsidiary of SOCAR, the State Oil Company of the Republic of Azerbaijan, carried out a refinancing transaction worth USD 1.6 billion under favorable conditions, under the leadership of First Abu Dhabi Bank PJSC ("FAB") and Mizuho Bank ("Mizuho"), two of the world's reputable banks.

The refinancing transaction, which was carried out at a time when concerns about the global economy continued, attracts attention with its long repayment term, similar transactions in the market and low interest cost compared to previous loans. The refinancing transaction, which was provided through syndication with the participation of 22 banks from Europe, the Far East and the Middle East and did not create additional liabilities for SOCAR, was carried out under the guarantee of SOCAR, with a maturity of five years and an annual interest rate of SOFR +230 basis points. This transaction, which received a demand of 1.8 times the targeted financing amount, was evaluated as a concrete indicator of the trust in SOCAR and SOCAR Türkiye's solid financial structure and strong position in the world financial circles.

Evaluating the refinancing transaction, Rovshan Najaf, SOCAR President and SOCAR Turkey Chairman of the Board of Directors, said, "A refinancing of this magnitude, provided under favorable conditions, under the leadership of the world's powerful financial institutions FAB and Mizuho, ​​is an indication of the great trust in SOCAR Türkiye at a time when uncertainties still persist in the global markets. This financing provided from international sources increases the liquidity of the SOCAR Group, while also showing that our projects are supported by financial institutions." made the statement.