PASHA Bank, contributing to the development of trade between Turkey-Azerbaijan- Georgia, guiding the investors in the region with the Investment Banking and Corporate Banking products. PASHA Bank had issued 46 million Turkish Lira Asset – Backed Securities (ABS) to support agricultural sector for the fourth time.
PASHA Bank and OMG Capital Advisors, Tarfin Tarım A.Ş. has made 46.000.000 TL Asset Backed Securities issuance yielding 20.50% p.a. The ABS consists of three tranches with a weighted average tenor of 204 days. The issue has a credit rating AA– (6 notches above investment grade) from JCR Eurasia.
The issuance has helped display both the sustainability of Tarfin’s business model and the role asset backed securities can play in deploying credit to the real sector. The proceeds helped finance the production inputs of some 6,300 farmers via capital markets.
The issuance was over subscribed and generated strong interest from a variety of investors including mutual funds, pension funds, Treasury departmants of corporate holdings and high net worth individuals despite of pandemic.
Tarfin, sells farm inputs such as fertilizer, seed, pesticide and feedstuffs to over 11,000 farmers at competitive prices and extended payment terms to match farmers’ cash flow cycles. It is active in 50 cities, 3120 villages across Turkey and reaches its customers through more than 225 partner sales points.