Since 2020, PASHA Bank has been breathing new life into alternative investment instruments through Asset-Backed Securities (ABS) issuances, supporting the agriculture, automotive, chemical, and retail sectors. Last week, following its TRY 90 million issuance for the agriculture sector, PASHA Bank completed a TRY 300 million issuance for the automotive sector.
As PASHA Bank continues to play a significant role in financing foreign trade within the Türkiye-Azerbaijan-Georgia triangle, just as in previous years, it is steadfastly pursuing its strategic goal of becoming the “first bank that comes to mind in the region.” In this context, PASHA Bank has been diligently continuing its ABS issuance operations, which began in 2020. Since then, the bank has channeled over TRY 3 billion in financial resources to its clients operating in the agriculture, automotive, chemical, and retail sectors. In 2023, PASHA Bank made history in Türkiye’s capital markets by facilitating the first ABS issuance linked to wheat prices. This innovative approach, which indexed the future prices of purchased agricultural inputs to wheat prices, effectively mitigated pricing risks by eliminating uncertainties in financial markets. These issuances, specially designed for qualified investors, are backed by a strong and diversified collateral structure, offering attractive returns.
To continue providing these appealing return opportunities, PASHA Bank recently followed up its TRY 90 million issuance for the agriculture sector with a TRY 300 million issuance for the automotive sector, executed in two tranches with an average maturity of 319 days. This issuance, conducted in collaboration with OMG Capital, comes at a time when investments in the automotive sector are gaining prominence. It introduces to investors in Türkiye a collateral structure commonly seen abroad, aimed at accelerating the sector.
In a statement regarding the matter, PASHA Bank's General Manager H. Cenk Eynehan said, “In our new three-year strategy period covering 2024-2026, we plan to further enhance our role in financing trade within the Türkiye-Azerbaijan-Georgia triangle by prioritizing sustainability. At the same time, we will continue to support the real sector by expanding our transaction volume in capital markets We will maintain our customer-focused approach and increase the diversity of financing and product offerings tailored to our customers' needs.”
Maygold Group of Companies operates primarily in the automotive and fuel sectors, followed by insurance, jewelry, and foreign exchange sectors, through its five active companies.
Maygold Otomotiv A.Ş. offers services such as second-hand installment vehicle sales (Otovadeli), cash vehicle sales, long-term leasing services primarily to public institutions (Maygold Filo), and daily car rental services to individual customers (Mayrent). Otovadeli.com is a platform where approximately 8,000 second-hand vehicles are currently displayed, and the number is increasing daily. It allows customers who wish to purchase vehicles on an installment basis to apply for the relevant vehicle. The vehicles showcased on the platform are part of the Maygold Otomotiv A.Ş. fleet, in collaboration with about 800 galleries/dealers.