Tarfin Continues to Empower Farmers with New ABS Issues and International Loans

Tarfin Continues to Empower Farmers with New ABS Issues and International Loans 18.01.2022

Tarfin, the leading digital agriculture platform that enables farmers to access agricultural inputs, continues to provide services at more than 750 authorized retailers in more than 70 provinces with competitive prices and the option to pay at harvest time. Increasing the efficacy of its strong capital structure on agricultural production, Tarfin has enabled farmers to reach agricultural inputs of over 500 million TL since 2017. Small and medium-sized farmers who continue their production with confidence thanks to their purchases from Tarfin contributed 2.7 billion TL to our country's agricultural production.


Standing out with its strong financial structure, the company finances long-term sales of fertilizers, feed, plant nutrition products, and agricultural equipment to farmers using its own capital together with international loan agreements. Last week, Tarfin signed a local currency loan agreement with leading impact investment platform Symbiotics. In the same week Tarfin also issued its 11th asset-backed securities (ABS) issuance that enabled capital market investors to directly support farmers. Every ABS that investors buy contributes to the Turkish agricultural sector and supports tens of thousands of farmers, as well as contributing to the strengthening of the production model in agriculture.

“We are happy to contribute to the success of Tarfin.”

Symbiotics, the leading market access platform in impact investment, and Tarfin, Turkey's leading digital agriculture platform, signed a loan agreement to cooperate on sustainable agriculture across Turkey. In addition to its contribution to Turkish agriculture, this loan agreement has become an important collaboration in its own right, as it is an example of an agreement signed in local currency.
Symbiotics Senior Investment Analyst for Innovation, Aldric Luyt, expressed the following regarding the support provided: “Agriculture and rural development are essential for economic growth in Turkey, where agricultural workers constitute 25% of the total workforce. Our partnership with Tarfin started in 2019. We are happy to continue contributing to Tarfin's success in supporting food production in Turkey with innovative technology-based solutions.”

A total of 292 million TL worth of ABS issuance in five years.

Tarfin's 11th ABS issuance is with a deferred payment for 310 days and a total nominal value of 50 million TL, the input needs of 3,478 farmers producing in 63 Turkish provinces met with institutional investors. Pasha Investment Bank and OMG Capital Advisors carried out the issue, which was evaluated as being in the "Highly Invested" category by JCR Eurasia and received an "AA" credit rating.

With this last issuance, Tarfin has issued a total of 292 million TL of ABS since its establishment in 2017.

“We will continue to support more farmers.”


Stating that the company will continue to produce solutions for different aspects of agriculture, Tarfin CEO Mehmet Memecan continued, “With the new issuance, we have issued a total of 292 million TL of ABS. We have more than 30,000 farmers in 70 provinces in seven regions of Turkey. To date, we have provided more than 500 million TL of agricultural inputs to our farmers. We are planning another issuance with a nominal value of 50 million TL by the end of this year. We will continue to support more farmers with the loan we received from Symbiotics.”


About Symbiotics Symbiotics is the leading market access platform for impact investing, dedicated to financing micro-small and medium enterprises and low- and middle-income households in emerging and frontier markets. Since 2005, Symbiotics has structured and originated some 4,000 deals for over 490 companies in almost 90 emerging and frontier markets representing more than USD 6.5 billion. These investments have been purchased by more than 25 fund mandates and more than 50 third party specialized fund managers, forming a growing ecosystem and marketplace for such transactions. www.symbioticsgroup.com


 

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