PASHA Bank will add a total of 500 million TL support to these sectors by adding the chemical sector in addition to the agriculture and automotive sectors in 2022. Aiming to issue 300 million TL ABS (Asset Backed Securities) for the agricultural sector only, PASHA Bank has made a second 100 million TL ABS issuance after the 100 million TL ABS issuance that it had made in the past days.
PASHA Bank and OMG Capital Advisors, on behalf of the Tarfin Tarım A.Ş. (Tarfin Agriculture Inc.), 100 million TL was issued with a maturity of 128 days to be presented to qualified investors. Offering an annual simple interest yield of 29.75 percent, ABS has been evaluated in the “High Level of Investment” category by JCR Eurasia and has an “AA-” credit rating.
Thanks to this ABS issuance, the agricultural input needs of approximately 5800 farmers were funded from the capital markets. 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 VAT 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 7,600 villages at 880 sales points, with competitive prices and maturity opportunities suitable for farmers’ cash flows.