THE GLOBAL WINDOW OF TURKISH FOOD AND AGRICULTURE The Global Window of Turkish Food and Agriculture Sector
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Press release…
PASHA Bank continues to add strength to the real sector with Asset Backed Securities (VDMK) issuances. PASHA Bank, on behalf of Tarfin Agriculture, issued TL 90 million with an average maturity of 114 days with an annual simple yield of 53.06 percent and a Turk Rating A1 rating.
Providing information about the new VDMK issuance of PASHA Bank, which left behind a successful half-year by reaching an asset size of 10 billion 431 million TL in the first half of the year, PASHA Bank General Manager H. Cenk Eynehan said that as PASHA Bank, they continue their VDMK issuance transactions that they started in 2020 without slowing down.
“Since its inception, we have brought together more than TL 3 billion of financial resources with our customers operating in the agriculture, automotive, chemical and retail sectors. Last year, we broke new ground in Turkish capital markets and intermediated the issuance of VDMK indexed to wheat price. By indexing the futures price of agricultural inputs purchased with this method to the wheat price, uncertainties in financial markets were eliminated and pricing risk was eliminated. The strong and multiple collateral structure and attractive return opportunity are behind these issues, which we have specially designed for qualified investors,” Eynehan said.
Pointing out that they are very pleased to continue to support the agricultural sector, which is one of the most important items for the sustainability of today, Eynehan added, “The future and the economy, with these issues we offer to qualified investors on behalf of Tarfin Agriculture.”
