The 4th ABS issue by Asset Finance Fund set up for the first time in Turkey by Aktif Bank has attracted huge interest and attention from investors. With this 4th Emek ABS issue made for TRY180 Million, Aktif Bank achieved a further success.

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The 4th ABS issue by Asset Finance Fund set up for the first time in Turkey by Aktif Bank has attracted huge interest and attention from investors.  With this 4th Emek ABS issue made for TRY180 Million, Aktif Bank achieved a further success.

Making many ‘firsts’ in its sector, Aktif Bank has made its 4th Emek Asset Backed Securities (ABS) issue on the ISE Qualified Investors Issue Market through its Asset Finance Fund, also  a first for Turkey. Made with an average maturity of 541 days for TRY294 million, this 4th Emek ABS has attracted huge interest and attention from investors including, in particular, leading players of insurance and portfolio management sector. Being Turkey’s safest private sector investment instruments with an AAA rating, EMEK ABSs reached a total issue amount of TRY859 million in about 1 year, thereby achieving a noteworthy success in the sector. 

Pointing out that Aktif Bank is playing a role in expanding Turkish Capital Markets on the strength of its Asset-Backed Securities issue, PhD. Önder Halisdemir, CEO of Aktif Bank, said in his statement about the issue: “Aktif Bank has realized the first real ABS Issue in October, 2011, on the strength of its innovative and enterprising banking approach. This 4th issue done in parallel to this verifies once again that products released on the market after they are intelligently structured would always be welcomed in the market”. PhD. Halisdemir added: “Aktif Bank, resting on its innovative and enterprising banking approach which is a reflection of its new-generation banking concept invented by itself, is geared to keep up playing an an active role in rendering Turkish Capital Markets deeper, as well as pioneering the sector, as is the case in everything it does. Apart from ABS issues, the first “Islamic Debt Instrument Issue” done in July at the ISE  is another example of this approach which they are exhibiting. 

Aktif Bank Securitization transactions based on individual loan porftolio, 4th of which is now done, have been rated by JCR-Eurasia Rating as AAA which is the highest rating which could be achieved in Turkey.