BP INVITES BANKS FOR OIL PIPELINE FINANCING
AzerTAg.az
29.09.2003 [14:12]
BP has invited 20 financial institutions to take part in the underwriting of a $1.2 billion syndicated loan for the financing of a pipeline from Azerbaijan at the Caspian Sea, via Georgia to the Turkish port of Ceyhan.
BP hopes to finalize a deal until the end of the year. Banks have time until October to hand in proposals about terms and rates.
BP is confident that also the World Bank and the European Bank for Reconstruction and Development will provide financing.
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