PASHA Bank, which has been delighting its investors with Asset-Backed Securities (ABS) as an alternative investment tool since 2020, has carried out a new ABS issuance this time for the automotive sector. The issuance, amounting to TRY 75 million and realized for the first time on behalf of Seyidoğlu Automotive, was offered to qualified investors with a 55% yield and an average maturity of 54 days.
Playing a leading role in financing foreign trade within the Türkiye-Azerbaijan-Georgia triangle and as a pioneer in ABS issuances, PASHA Bank contributes to the growth of the agriculture, automotive, chemical, and retail sectors while also providing investors with attractive investment alternatives. In this context, PASHA Bank has generated over TRY 4 billion in financial resources since 2020 and continues to support the automotive sector, which is one of Türkiye’s key strengths in exports. In November, the automotive sector achieved exports worth USD 3.241 billion, marking a 2.3% increase compared to the same period last year. For this sector, PASHA Bank, in collaboration with OMG Capital, conducted an ABS issuance of TRY 75 million. PASHA Bank converted Seyidoğlu Automotive’s invoiced receivables from spare part sales to leading insurance companies in the sector into an investment instrument rated Turk Rating A1, offering a simple annual return of approximately 55%. The issuance, amounting to TRY 75 million and conducted in collaboration with OMG Capital, became the first ABS issuance for Seyidoğlu Automotive.
PASHA Bank General Manager H. Cenk Eynehan made a statement regarding the matter, saying, “While contributing to the development of the agriculture, automotive, chemical, and retail sectors, we also provide investors with attractive investment alternatives. Since the first ABS issuance in 2020, we have issued a total of over TRY 4 billion. We are aware that the rising production volume in the automotive sector signifies a remarkable development in our country. For this reason, we will continue our issuances that support the automotive sector.”
Since its establishment, Seyidoğlu Automotive has been providing import, export, and logistics services for products from some of the world’s leading spare parts manufacturers to its customers. Seyidoğlu Automotive has partnered with approximately 32 insurance companies and sources products from 15 brands. Aiming to become a global supplier, Seyidoğlu Automotive has built a robust network in its import processes, working with more than 50 suppliers from over 30 countries. By importing from countries such as Germany, Romania, Spain, Italy, Portugal, Greece, Bulgaria, Mexico, India, and Dubai, it has established an effective global supply chain.