PASHA Bank, the pioneer of Asset-Backed Securities (ABS) issuance, has carried out a TRY 110 million issuance for the automotive sector. The issuance stood out with its average simple interest rate of 60.75% and an average maturity of 350 days.
Since its establishment, PASHA Bank has continued to add value to the financial sector and provide innovative solutions to meet investors' financial needs. By issuing ABS and bringing them together with capital market players, PASHA Bank also supports the development of the real sector. Contributing to the growth of agriculture, automotive, chemical, and retail sectors while offering attractive investment alternatives to investors, PASHA Bank has issued over TRY 4.5 billion in ABS since its first issuance in 2020. Furthermore, PASHA Bank achieved a first in Türkiye by establishing a platform that allows qualified investors to easily participate in issuances such as bonds or ABS. Through this digital platform accessible via PASHA Bank's website, both PASHA Bank customers and non-customers who are qualified investors can easily submit their demands for ABS. Qualified investors can conveniently participate in bond and ABS issuances.
Since 2020, PASHA Bank has issued over TRY 4.5 billion in ABS for the real sector, including more than TRY 1 billion for the automotive sector. The bank concluded its final issuance of the year once again for the automotive sector. After recently issuing TRY 75 million for the sector, PASHA Bank has now carried out an issuance of TRY 110 million with an average simple interest rate of 60.75% and an average maturity of 350 days. This issuance, conducted in collaboration with OMG Capital on behalf of Maygold Otomotiv, represents a financing solution aimed at adding value to the automotive sector.
PASHA Bank General Manager H. Cenk Eynehan commented on the matter, stating, "We aim to be one of the leading players in the sector for ABS issuances. While continuing to offer attractive financial instruments to investors, we will also maintain our responsibility to provide the necessary guidance for the growth of the market."
Maygold Group of Companies operates primarily in the automotive and fuel sectors, followed by activities in insurance, jewelry, and foreign exchange, through its five active companies. Maygold Otomotiv A.Ş. offers services such as deferred sales of used cars (Otovadeli), cash automotive sales, long-term car rental services primarily for public institutions (Maygold Filo), and daily car rental services for individual customers (Mayrent). Otovadeli.com is a platform currently showcasing approximately 8,000 used cars, with the number increasing every day, enabling customers interested in purchasing vehicles on installment plans to apply for the desired vehicle. The vehicles displayed on the platform are sourced from Maygold Otomotiv A.Ş. and consist of cars provided through collaboration with approximately 800 partner dealerships and showrooms.