PASHA Bank, which has been delighting its investors with alternative investment instruments such as Asset-Backed Securities (ABS) issuances since 2020, continues to support the automotive sector and provide attractive investment opportunities with its latest ABS offering. The new issuance, carried out on behalf of Seyidoğlu Otomotiv, amounts to TRY 250 million and is offered to qualified investors with an average annual simple interest rate of 55% and an average maturity of 199 days.
Celebrating its tenth year of operations in Türkiye, PASHA Bank continues to reinforce its position as a pioneering institution in ABS issuances. While contributing to the growth of the agriculture, automotive, chemical, and retail sectors, PASHA Bank also offers investors lucrative investment alternatives. In the first quarter of this year, the Bank achieved 22.9% asset growth compared to the same period last year, reaching an asset size of TRY 12.599 billion. Since 2020, the Bank’s ABS issuances have provided over TRY 6.5 billion in financial resources, offering vital support to the real sector. Continuing its support for the automotive sector—a key player in Türkiye’s exports—PASHA Bank also presents its investors with one of the period’s most attractive returns. As a leading institution in ABS, PASHA Bank transformed Seyidoğlu Otomotiv’s invoiced receivables from spare parts sales to major insurance companies in the sector into an investment instrument rated A1 by Turk Rating, offering an average annual simple interest return of 55%. The TRY 250 million issuance, carried out in collaboration with OMG Capital, stands out with its average maturity of 199 days.
Commenting on the development, PASHA Bank General Manager H. Cenk Eynehan stated:
“Our Bank is the only bank in Türkiye with its main shareholders based in Azerbaijan. As part of PASHA Holding, one of Azerbaijan’s leading groups, we are pioneers in ABS issuances in Türkiye. We have issued ABS for the agriculture, chemicals, automotive, and retail sectors, and we have taken these transactions digital as well. Entering the year with momentum, we have issued over TRY 1.5 billion since the beginning of the year to provide funding for the agriculture, retail, and automotive sectors. While contributing to the development of these sectors, we continue to offer investors attractive and profitable investment alternatives. Since 2020, our ABS issuances have provided over TRY 6.5 billion in funding to the real sector. Through our asset-backed securities, we are not only supporting the real sector, but also offering investors sustainable and high-yield financial products.”
Since its establishment, Seyidoğlu Otomotiv has been providing its customers with import, export, and logistics services for products from the world’s leading spare parts manufacturers. Partnering with around 32 insurance companies, Seyidoğlu Otomotiv supplies products from 15 different brands. With the goal of becoming a global supplier, the company has established a strong network with over 50 suppliers across more than 30 countries, including Germany, Romania, Spain, Italy, Portugal, Greece, Bulgaria, Mexico, India, and Dubai, thereby building an effective global supply chain.