Having supported the agricultural sector since the year 2020, PASHA Bank issued 400 million TL worth of asset-backed security (ABS) in the first half of this year. PASHA Bank’s latest 100 million TL worth of ABS issue with 139-day maturity stands out with its AA JCR long-term national rating and 36 percent interest rate of return.
It offers investment banking, corporate banking, and premium banking products with the purpose of contributing to the trade among Turkey, Azerbaijan, and Georgia, creating resources for and providing guidance to the businesses that invest in the region and plays a pioneering role in the field of ABS in Turkey. PASHA Bank has, since its first ABS issue in the year 2020, provided 805 million TL financial support to the agricultural and automotive sectors. With its latest 100 million TL worth of ABS issue with an average 139-day maturity and 36 percent interest rate of return, PASHA Bank’s support to the agricultural sector reached 400 million TL in the first half of this year.
Making a statement about the matter, H. Cenk Eynehan, General Manager of PASHA Bank said as follows: “With our ABS issues, we offer the investors investment options with an attractive yield. Since 2020, we have focused on the agriculture and automotive sectors, and the worth of our issues added up to 805 million TL. These issues on behalf of Tafrin Tarim A.S. to qualified investors are of great significance to both agricultural and automotive sectors as well as to the national economy. As you know, national self-sufficiency in food has been important since the pandemic and reached its peak as the result of the Ukraine-Russia war. While the oldest sector of the world, agriculture, is in its prime, every support given to our national agricultural sector is very valuable.”
These issues intended for the agricultural sector helped Tarfin provide support to more farmers and also demonstrated, once again, the critical role played by the innovative capital market instruments like ABSs in financing the real sector. Tarfin Tarim A.S. offers fertilizer, animal feed, and similar agricultural inputs at 880 stores to the farmers in 80 provinces and 7,600 villages at competitive prices and favorable maturity terms.