The issuance of the 6th installment of “Asset-Backed Securities (ABS)”, following the previous issuances made in Turkey.
The issuance of the 6th installment of “Asset-Backed Securities (ABS)”, following the previous issuances made in Turkey only by Aktif Bank to date, has attracted again huge interest and attention from investors, similar to prior issuances. Regarding this 6th ABS issuance amounting to TRY295,6 million, Dr. Önder Halisdemir, CEO of Aktif Bank, stated: “This issuance is a good indicator of the trust and faith which investors have in our national economy as well as in our bank. Smartly structured financial products are always welcome by the market.
Aktif Bank, the inventor of new generation banking, has made its 6th Asset Backed Securities (ABS) issuance on the BIST Qualified Investors Issuance Market through its Asset Finance Fund, itself being a first for Turkey. This issuance, attracted huge interest and attention from investors including, in particular, leading players of insurance and portfolio management sector, has been made in 17 different tranches, with terms up to 55 months, through indirect transfer method.
Pointing out that Aktif Bank is playing a role in expanding Turkish Capital Markets on the strength of its Asset-Backed Securities issuances, Dr. Önder Halisdemir, Aktif Bank CEO, said in his statement about the issuance: “We, as Aktif Bank, on the strength of our innovative and enterpreneurial banking approach, we realized this issuance with great success, selling all the securities issued under this now-traditional ABS scheme, which we pioneered in the sector. This 6th issuance also verifies once again that smartly structured products offered to financial markets are always welcome, regardless of the prevailing conditions in financial markets. Aktif Bank, as a reflection of its innovative and pioneering identity, is committed to leave a footprint on the sectoral pathway and to continue playing an active role in diversifying products in Turkish Capital Markets, as well as pioneering the sector.”
ABS issuance received “high investment grade rating”
Aktif Bank’s 6th Emek Asset Backed Securities issued by Emek Asset Finance Fund in relation to a structured financing scheme is rated by JCR-Eurasia Rating, an international rating agency, in the “high investment grade” category. While Long-Term National Rating for this 6th ABS issuance is set as ‘AAA (Trk)’, Long-Term International Foreign Currency rating is set as (BBB-) limited with Turkey’s sovereign rating grade.