As a leading brand in Asset-Backed Securities (ABS) issuances, PASHA Bank has completed an issuance worth TRY 175 million on behalf of Seyidoğlu Otomotiv. With this transaction, PASHA Bank has surpassed a total of TRY 2 billion in ABS issuances for the automotive sector in the first half of the year.
Since beginning its operations in Türkiye 10 years ago, PASHA Bank has demonstrated strong growth each year. Since 2020, it has provided investors with innovative solutions to their financial needs through ABS issuances as an alternative investment tool. Having created over TRY 7 billion in funding for the real sector since 2020 and targeting an ABS issuance volume of TRY 5 billion for the year, PASHA Bank continues to support the automotive sector, one of the standout industries in the real economy. PASHA Bank has been by the side of the automotive sector since it started its ABS issuances. The TRY 175 million issuance on behalf of Seyidoğlu Otomotiv, offered in collaboration with OMG Capital, was presented to qualified investors with an average annual simple interest yield of 56% and a weighted average maturity of 226 days. The issuance has been rated A1 by Turk Rating. With this latest transaction, PASHA Bank has surpassed TRY 2 billion in ABS issuances for the automotive sector in the first half of the year.
Since its establishment, Seyidoğlu Otomotiv has provided its customers with import, export, and logistics services for products from the world’s leading spare parts manufacturers. The company partners with approximately 32 insurance companies and sources from 15 brands. Aspiring to become a global supplier, Seyidoğlu Otomotiv has established a strong network with over 30 countries and nearly 50 suppliers in its import operations. Through imports from countries including Germany, Romania, Spain, Italy, Portugal, Greece, Bulgaria, Mexico, India, and Dubai, the company has created an effective global supply chain.