Creating resources for the real sector with the issuance of Asset Backed Securities (ABS), a new investment financing, PASHA Bank provided TRY 500 million of support for the agricultural sector in the first 10 months of the year. This time, PASHA Bank is issuing TRY 100 million of ABS, with an average maturity of 245 days, with an AA-Long-Term National Rating from JCR and an annual simple return rate of 38 percent for the agricultural sector.
Taking a leading role among investment banks in ABS issuance, which is important for the development of the real sector and increasing employment, PASHA Bank continues to support agriculture, the oldest sector in the world. Having exported TRY 820 million of ABS to the agricultural sector since 2020, PASHA Bank achieved an important success of TRY 500 million for the agricultural sector in the first 10 months of this year. 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 made the 5th ABS issuance of TRY 100 million for the agricultural sector this year. Realized on behalf of Tarfin Tarım A.Ş, with an average maturity of 245 days and a simple return rate of 38 percent per year, it is the lifeblood of the agricultural sector, which is the most important item of the real sector. The issuance also draws attention with its AA- Long-Term National Rating from JCR.
PASHA Bank General Manager H. Cenk Eynehan stated the following regarding the subject: “With the issuance of ABS, we have provided the real sector with indirect access to over TRY 1 billion of financial resources since 2020. Since January 2022, we have transferred a total of TRY 620 million of financing resources to the real sector with our ABS issuances. We plan to transfer approximately TRY 500 million of additional financing resources to the real sector by the end of the year. We will continue to support the agriculture sector, which is the most important item of today and the future, with these issuances we offer to qualified investors on behalf of Tarfin Tarım A.Ş.”
These issuances to the agricultural sector not only enabled Tarfin to support more farmers, but also showed once again the critical role played by innovative capital market instruments such as ABS in the financing of the real sector. Tarfin Tarım A.Ş. offers fertilizer, seeds, feed and similar agricultural inputs to farmers in 80 provinces and 13,024 villages from 1,196 sales points at competitive prices and maturity opportunities suitable for farmers' cash flows.