PASHA Bank, the pioneer of Asset-Backed Securities (ABS) issuances in Türkiye, has supported the real sector with over TRY 2 billion since the first issuance in 2020. PASHA Bank's last agricultural sector issuance of this year is worth TRY 225 million with a maturity of 262 days and an annual simple interest rate of 57.57 percent.
Contributing to the development of trade between Türkiye-Azerbaijan-Georgia and operating in Türkiye for 8 years, PASHA Bank continues to stand by its customers with its ABS issuances. PASHA Bank, which plays a pioneering role among investment banks in ABS issuances, which are important for the development of the real sector and the increase in employment, broke new ground in Türkiye by transforming the value of wheat into investment and started to offer investment opportunities with a return indexed to the wheat price. In this sense, PASHA Bank, which transforms wheat into an investment instrument, continues to support the agricultural sector. Having issued TRY 798 million to the agricultural sector in 2023, PASHA Bank is signing the last issuance of the year amounting to TRY 225 million. This 262-day maturity issue attracts attention with an annual simple interest rate of 57.57 percent and has an AA- rating from the international rating agency JCR. With this issuance, PASHA Bank has supported the agricultural sector with a total of TRY 1 billion 818 million since 2020.
When we look at issues such as the pandemic, climate crisis, problems in access to food, and the grain corridor, agriculture has become one of the main sectors of today and the future. T, which is the world's most important exporter of food products such as flour, biscuits and pasta, is also increasing its support for agriculture. Pointing out the importance of finance in the development of agriculture, H. Cenk Eynehan, General Manager of PASHA Bank, stated the following:“As a leading bank in abs issuances, we continue to support the sustainability of today, the future and the economy with issuances. As you know, we have been supporting the real sector and especially the agricultural sector with ABS issuances since 2020. With our issuances, we realized a first in Türkiye and turned wheat into an investment instrument. Agriculture has always been one of our core sectors since the day we started operating in Türkiye. We continue to support this support in different ways through the issuance of ABSs.”
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.