PASHA Bank Maintains its Support to the Agricultural Sector With the İssuance of ABS of TRY 50 Million

 
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PASHA Bank, one of the pioneers of Asset-Backed Securities (ABS) issuance in Turkey, made another ABS issuance of TRY 50 million in November, following the issuance of ABS worth TRY 50 million for the agricultural sector in September 2021. PASHA Bank, which has provided a total of TRY 270 million in support to the agricultural sector since 2020, will issue more ABS totaling TRY 50 million until the end of the year.  

PASHA Bank and OMG Capital Advisors, had made 50.000.000 TL Asset Backed Securities issuance for Tarfin Tarım A.Ş. yielding 23.50% p.a. The ABS consists of three tranches with a weighted average tenor of 310 days. The issue has a credit rating “AA–“ from JCR Eurasia.

ABS issuances, which are important for the development of the real sector and the increase in employment, are carried out under the leadership of PASHABank among investment banks. With today's issuance, PASHABank has brought together resources totaling TRY 270 million with the agricultural sector since 2020. PASHABank, the pioneer of ABS issuance in Turkey, which has been on the rise as a reliable financial instrument in recent years, aims at issuing an additional ABS worth TRY 50 million until the end of the year.

The issuance was over subscribed and generated strong interest from a variety of investors including mutual funds, pension funds, treasury departments of corporate holdings and high net worth individuals despite of pandemic.

The agricultural input needs of approximately 4,000 farmers were funded from the capital markets. This issuance not only enabled Tarfin to support more farmers, but also showed once again the critical role played by innovative capital market instruments such as ABS in financing the real sector.

TARFIN sells fertilizers, seeds, feed and similar agricultural inputs at 746 sales points in 7,395 villages in 75 provinces across Turkey at competitive prices and with maturity opportunities suitable for farmers' cash flows.

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Sultan Selim Mahallesi,
Hümeyra Sokak,
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34415 Kağıthane / Istanbul - Turkey