Hepsiburada's Asset-Backed Security Issuance Oversubscribed Amid Strong Investor Demand
D-Market Electronic Services & Trading - American Depositary Shares (HEPS)
Company Research
Source: PR Newswire
ISTANBUL, June 12, 2024 /PRNewswire/ -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform, announced the successful issuance of its first asset-backed security (ABS) amounting to 150 million TRY. This issuance is part of the 2 billion TRY limit approved by the Capital Markets Board to PASHA Yatirim Bank Hepsiburada Asset Finance Fund. PASHA Bank, a pioneer in ABS issuances, recently launched Türkiye's first digital platform to merge its ABS expertise with the digital world. One of the first issuances on this digital platform was for Hepsiburada.The issuance, which took place on June 5, 2024, includes four tranches with a maximum maturity of 147 days. The interest rate varies between 54% to 57% depending on the maturity. Hepsiburada participated as the originating entity, leveraging its Buy Now Pay Later (BNPL) receivables for this structure.The funds raised through this issuance will be utilized to sustainably grow Hepsi
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Sec Filings
- 6/13/24 - Form 6-K
- 5/30/24 - Form 6-K
- 4/30/24 - Form 6-K
- HEPS's page on the SEC website