PASHA Bank Issues 110 Million TL in Funding for the Automotive Sector

Foreks - PASHA Bank has completed an issuance of 110 million TL for the automotive sector. The issuance stands out with an average simple interest rate of 60.75% and a maturity period of approximately 350 days. By connecting the issued VDMKs with capital market players, PASHA Bank supports the development of the real sector. While contributing to the growth of the agriculture, automotive, chemical, and retail sectors, PASHA Bank also offers investors an attractive investment alternative with appealing returns. Since the first VDMK issuance in 2020, it has signed transactions exceeding 4.5 billion TL. Additionally, PASHA Bank has pioneered a platform in Turkey allowing qualified investors to easily participate in issues such as bonds or VDMKs. As a result, all qualified investors, whether clients or not, can easily generate requests for VDMKs on the digital platform accessible through PASHA Bank's website. Qualified investors can participate effortlessly in bond and VDMK issuances. Since 2020, PASHA Bank has carried out a total of over 4.5 billion TL in VDMK issuances targeting the real sector, with over 1 billion TL dedicated to the automotive sector. The bank has once again concluded the year's last issuance for the automotive sector. Following a recent issuance of 75 million TL for the sector, the bank has now conducted an issuance of 110 million TL with an average simple interest rate of 60.75% and an average maturity of 350 days. This issuance, carried out on behalf of Maygold Automotive in collaboration with OMG Capital, aims to provide a financing solution that adds value to the automotive sector. H. Cenk Eynehan, General Manager of PASHA Bank, stated, "We aim to be one of the leaders in VDMK issuances. While continuing to offer attractive financial instruments to investors, we will always fulfill our responsibility by providing the necessary information for the growth of the market." The Maygold Group operates primarily in the automotive and fuel sectors with its five active companies, and also in insurance, jewelry, and foreign exchange sectors. Maygold Automotive A.Ş. offers sales of second-hand vehicles on credit (Otovadeli), cash vehicle sales, long-term leasing services primarily for public institutions (Maygold Filo), and daily vehicle rental services for individual customers (Mayrent). Otovadeli.com is a platform that currently showcases around 8,000 second-hand vehicles, with a growing number of listings, allowing customers interested in purchasing vehicles on credit to apply for the relevant vehicle. The vehicles displayed on the platform consist of approximately 800 units in collaboration with galleries/dealers and are part of the inventory of Maygold Automotive A.Ş.