Tarfin has concluded the first ABS issuance of the 2022-2023 agricultural season.
Tarfin, which always strives to support the farmers with the services it provides, has concluded the issuance of Asset-Backed Securities (ABS) worth 100 million TL with an average maturity of 245 days. As the first ABS issuance of the 2022/2023 agricultural season, this is also Tarfin's 17th ABS issuance, bringing the company's total export volume to 842 million TL.
As Turkey's leading digital agriculture platform, Tarfin has concluded the first Asset-Backed Securities (ABS) issuance of the 2022/2023 agricultural season. After issuing 100 million TL with a 245-day average maturity, Tarfin's total issue now amounts to 842 million TL. Through this issuance, which was carried out with the help of the Pasha Investment Bank and the OMG Capital Advisors' expertise, Tarfin could finance the provision of much-needed agricultural inputs by bringing together institutional investors and almost 3,000 farmers across 71 Turkish provinces.
This issuance was evaluated in the category of high-grade investments.
This issuance, which JCR Eurasia Rating evaluates as "highly investable", maintains its distinction as the only agricultural ABS. Through issuing its ABS, Tarfin has also contributed to the growth of the agricultural industry by converting the forward sales it makes to farmers into investment instruments, providing investors with new options that offer lucrative returns.
"We are making significant progress in ensuring the sustainability of Turkish agriculture."
Tarfin CFO Kerimcan Aycibin noted the rise of ABS as a reliable financial instrument, and said, "As Tarfin, we mediate a high-value-added service between Turkish investors and farmers with our ABS issuances. By partnering with institutional investors to address farmers' input needs, we contribute significantly to the sustainability of Turkish agriculture. Furthermore, we also provide our investors with a compelling option. As a result, our interests align with those of both parties and our nation's economy and agriculture. Our company is essential to our stakeholders, as evidenced by the high demand for the issuances we have made thus far and the rate of increase in the number of farmers using Tarfin. We take great pride in assisting Turkish farmers with their crops and production. With the investments we have received, our ABS and lease certificate (Sukuk) issuances, and agreements with international finance sources, we will keep adding value along the supply chain from farmer to consumer."
Since its founding, Tarfin Tarım Inc. has continued its efforts to support Turkish farmers, as we feel that farmers have the largest contribution to make to the country's destiny. Our machine learning-based agricultural risk score model gives Turkish farmers access to all agricultural inputs, including fertilizer, seeds, and feed, at a reasonable cost with the option of paying upon harvest. Our mobile application offers our farmers comparative prices for the most up-to-date fertilizer, feed, and other agricultural inputs available in their regions. Thanks to our technology, we show our farmers different alternatives and help them find the best prices. Today, our farmers can easily reach us through our mobile application and more than 1100 authorized Tarfin sales points in 76 provinces. Farmers who want to purchase their agricultural needs from Tarfin in cash or installments can visit our sales points in their provinces, complete their transactions in 4 minutes, and receive their products instantly. With the purchases they make from Tarfin, our farmers can buy what they need with reasonable price options without taking on additional obligations such as guarantors and mortgages. All our farmers schedule payments based on the harvest dates for their products and regions, allowing them easily to meet all their agricultural needs without incurring additional expenses such as file fees, card fees, or membership fees.