Tarfin achieved a new ABS issuance based on Turkey's agricultural receivables.
Tarfin executed a new ABS issue that has played an essential role in connecting Turkish agriculture with investment resources. This issue is Tarfin's fourth ABS issuance in the 2021-2022 agricultural production season, and it is also the 13th ABS issue that Tarfin has undertaken as a source company.
With the consultancy of Pasha Yatırım Bankası A.Ş and OMG Capital Advisors, Tarfin issued TL 100 million of asset-backed securities with an average maturity of 199 days on Friday 17th of June.
Tarfin carried out its 13th asset-backed security issuance
Tarfin, Turkey's leading digital agriculture platform, entered 2022 with ambitious growth goals. This year, the company will expand both domestically and internationally. New domestic futures securities issuances will strengthen Tarfin’s financial position.
Tarfin, which issued its first ABS in June 2018, also agreed to four ABS issuances in 2021.
The company has contributed TL 442 million from the capital markets to agricultural output and has fulfilled the agricultural input requirements of roughly 6,300 farmers with the first ABS issuance in 2022.
This issuance not only allowed Tarfin to assist more farmers but also demonstrated the critical role that innovative capital market instruments such as ABS play in financing the real sector, despite market volatility.
Tarfin has had a strong year in terms of growth and farmer assistance in 2021. In addition to the ABS issuances, Tarfin's financial structure and growth rhythm accelerated by the international loans and investments it received. Tarfin, which completed an $8 million pre-series B-bridge investment round in December, provided farmers with fertilizer, seeds, feed, and similar agricultural inputs at competitive prices and maturity opportunities that fit farmers' cash flows through 880 authorized sales points in over 80 cities.
"We will execute projects that will strengthen the agricultural economy."
Mehmet Memecan, CEO of Tarfin, stated that the company entered 2022 with ambitious growth goals following a fruitful 2021, adding, "We are proud to support Turkish agricultural production with the help of our ABS investors at a time when grain production in the nation is so crucial due to the war that we are regrettably following in the Black Sea region. With ABS issuances, investments, and global financial resources, we will continue to provide value along the producer-to-consumer supply chain."
About Pasha Investment Bank
Pasha Bank provides services with investment banking and corporate banking products to contribute to the development of trade between Turkey, Azerbaijan, and Georgia and to provide resources and guidance to businesses investing in the region.
About OMG Capital Advisors
OMG Capital Advisors provided the necessary consultancy and support services at all stages of the technical and legal processes related to identifying the assets subject to the issuance of these securities, turning them into a financial product suitable for qualified investors, and then marketing them. OMG is an independent advisory firm specializing in capital markets and structured financial products.
