PASHA Bank Launches New VDMK Issue for the Automotive Sector

Since 2020, PASHA Bank has been enhancing investor satisfaction with its alternative investment instrument, Asset-Backed Securities (ABS). This time, the bank has issued a new ABS specifically for the automotive sector. The inaugural issuance, worth 75 million TL on behalf of Seyidoğlu Automotive, offers a return of 55% with an average duration of 54 days, aimed at qualified investors.

As a pioneering bank in financing foreign trade in the Turkey-Azerbaijan-Georgia triangle, PASHA Bank contributes to the growth of various sectors, including agriculture, automotive, chemicals, and retail, while providing investors with attractive investment alternatives. Since 2020, PASHA Bank has generated over 4 billion TL in financial resources, continuing its support for the automotive sector, which is one of Turkey's key export strengths. In November, the automotive sector achieved exports amounting to $3.241 billion, reflecting a 2.3% increase compared to the same period last year, and, in collaboration with OMG Capital, PASHA Bank carried out an ABS issuance of 75 million TL. The bank transformed Seyidoğlu Automotive's receivables from sales of spare parts to leading insurance companies into an investment instrument with an average annual simple return of 55%, rated A1 by Turk Rating. This issuance of 75 million TL, in collaboration with OMG Capital, marks Seyidoğlu Automotive's first ABS issuance.

In a statement, H. Cenk Eynehan, CEO of PASHA Bank, noted, "We provide an attractive investment alternative for investors while contributing to the development of the agriculture, automotive, chemicals, and retail sectors. Since the first ABS issuance in 2020, we have conducted a total of over 4 billion TL in issuances. We are aware of the remarkable growth in production volume in the automotive sector in our country, and we will continue our issuances supporting this sector."

Since its establishment, Seyidoğlu Automotive has provided import, export, and logistics services for products from leading global spare parts manufacturers. Partnering with around 32 insurance companies, Seyidoğlu Automotive supplies from 15 different brands. Aiming to become a global supplier, it has established a robust network with over 30 countries and nearly 50 suppliers in its import processes. By importing from countries such as Germany, Romania, Spain, Italy, Portugal, Greece, Bulgaria, Mexico, India, and Dubai, it has created an effective global supply chain.