Since its inception in Turkey, PASHA Bank has been aiming to create long-term resources for the real sector and to provide financing for investment projects, and continues to support the real sector with Asset Backed Securities (ABS) issuances. Again on behalf of Platin Kimya A.Ş., PASHA Bank, which made its first issuance of TRY 50 million on behalf of Platin Kimya A.Ş. in recent months, in order to create additional resources for the agricultural sector, is issuing another TRY 50 million of ABS on receivables arising from the sales of pesticides. The issuance stands out with its strong collateral structure, A-Long-Term National Rating from JCR and a simple annual return rate of 36 percent.
Having completed its seventh year in the Turkish banking sector, PASHA Bank, in the field of investment banking, acts as an intermediary in the issuance of capital market instruments such as bonds, bills and ABS, while in the field of corporate banking it serves its customers with cash loans, project finance, leasing, forfaiting, receivables financing, foreign trade financing and non-cash loan products. Established with the aim of contributing to the development of trade between Turkey-Azerbaijan-Georgia, creating resources and guiding businesses investing in the region, PASHA Bank plays a pioneering role in ABS in Turkey. PASHA Bank, which has issued TRY 50 million of ABS for its new customer Platin Kimya A.Ş. in the past months, continues its support to the sector with the issuance of TRY 50 million of ABS. Realized on behalf of Platin Kimya A.Ş, with an average maturity of 179 days and a simple return rate of 36 percent per year, it is the lifeblood of the agricultural sector, which is the most important item of the real sector.
PASHA Bank General Manager H. Cenk Eynehan stated the following on the subject:“With the ABS issuance, we have provided the real sector with indirect access to TRY 905 million of financial resources since 2020. Since January 2022, we have transferred a total of TRY 520 million of financing resources to the real sector with our ABS issuances. We plan to transfer approximately TRY 750 million of additional financing resources to the real sector by the end of the year. We expect such transactions to increase in our country as well as in countries with developed capital markets.”
ABS issuance, which is realized over the receivables of Platin Kimya Mümessillik ve Dış Ticaret A.Ş. from sales of pesticides, draws attention with A- Long-Term National Rating from JCR. Established in 1999, Platin Kimya has been producing pesticides and fertilizers in its own facilities in Antalya OSB since 2012. Platin Kimya has a market share of 5 percent in the agricultural sector.