The 3rd ABS issue by “Asset Finance Fund”, set up for the first time in Turkey by Aktif Bank, made with an average maturity of 569 days, for TRY180 Million.
The 3rd ABS issue by “Asset Finance Fund”, set up for the first time in Turkey by Aktif Bank, made with an average maturity of 569 days, for TRY180 Million, has attracted huge interest and attention from investors including, in particular, leading players of insurance and portfolio management sector, and has been successfully completed in a short time selling out on the very first day of trading at the ISE.
Such securitization transactions of Aktif Bank backed by individual credit portfolio had been rated by JCR-Eurasia Rating as AAA, which is the highest credit rating achievable in Turkey, and the former issues of TRY 187 Million and TRY197 Million, respectively, done in the last October and January, had also attracted huge interest and attention from capital markets, selling out in a short time.
Önder Halisdemir, PhD., CEO of Aktif Bank, said in his statement about the issue: “Through the first real ABS Issue done in October, 2011, Aktif Bank played a role in expanding Turkish Capital Markets on the strength of its innovative and enterprising character and this 3rd 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.” Dr. Halisdemir added: “Our 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. On this occasion, we would like to thank all institutions and organizations, including the CMB, in particular, that contributed to and supported efforts in making this ‘first’ real.”