PASHA Bank, the pioneer in Asset-Backed Securities (ABS) issuance, successfully completed its second ABS issuance of TRY 350 million for Türkiye's leading e-commerce platform, Hepsiburada. The issuance has an average maturity of 84 days with an average simple interest yield of 51%.
Continuing to lead and innovate in the ABS space, PASHA Bank has been adding value to its industry and meeting investors' financial needs with creative solutions since its inception. This major issuance of TRY 350 million for Hepsiburada, which connects 12.1 million active customers with 264 million products across more than 30 categories, follows a previous issuance of TRY 150 million in June. The significant increase to TRY 350 million highlights the growing interest in ABS products. Rated A1 by Turk Rating, this ABS offers an average annual simple yield of 51.00%. It was structured in 6 tranches with an average maturity of 84 days and was offered to qualified investors through the advisory of PASHA Bank and OMG Capital Advisors.
Having played a significant role in financing sectors like agriculture, automotive, and chemicals, PASHA Bank is now becoming a key player in financing retail trade as well. PASHA Bank, which established Türkiye’s first and only digital ABS issuance platform, executed this issuance on behalf of Hepsiburada, the first and only Turkish company publicly traded on NASDAQ. This issuance provided investors with a practical solution while generating returns. As interest in ABS continues to grow, PASHA Bank’s General Manager, H. Cenk Eynehan, stated that since launching ABS issuances in 2020, the bank has conducted over TRY 3.5 billion in issuances in capital markets. He also noted that PASHA Bank’s digital platform, hosted on its website, has received positive feedback from investors, with growing interest in ABS issuances. Eynehan emphasized that through ABS issuances, the bank will continue to support the real economy.