The state clears the balance sheets of banks!

State presses the button to clear bank balance sheets

Turkey is one of the founders of the TKYB Asset Finance Fund investment and development bank, the ring is not offered to qualified investors for the 3 trillion TL 150 billion nominal size of the 39, Issue Asset Backed Securities (ABS) will perform. The mortgage-backed securities (İTMK), which will be issued by Halkbank, Ziraat Bank, Vakıfbank and Garanti Bank, will be issued by Asset Finance Fund.

WALL – Investment and Development Bank of Turkey before the New Year (TKYB) active Fund financing, the issuance of huge-size securities (sales) will occur. Applications will be collected on 4-5-6. Asset-backed securities (VDMK) will be issued on December 7 with the support of Aktif Investment Bank, Garanti Securities, Halk Invest, Vakif Investment and Agriculture Investment.
As part of this transaction, it is stated that three public banks will generally transfer the damage to the Development Bank in the form of an export package. Thus, the balance of the damages on the balance sheet will be erased. VDMK is one of the claims that a public fund can receive, so that compromised loans are covered by this fund.

5 YEARS OF TERM

According to the information obtained, TKYB Asset Finance Fund will be offered to qualified investors without public offering. A fixed-coupon, fixed-maturity 5-year payment for asset-backed securities with a nominal size of TL 3,150,000,000 (TL3,000,150,000) will be of this size.

The mortgage-backed securities (İTMK), which will be issued by Halkbank, Ziraat Bank, Vakıfbank and Garanti Bank, will be the underlying assets of VDMK to be issued by the TKYB Asset Finance Fund.

In addition, Halkbank, Vakıfbank and Ziraat Bank will receive a one-year redemption guarantee from the date of issuance of the VDMK to support the sale of the VDMK to be exported. The price of the repurchase transactions will be considered as the yield on the date of issue. The upper limit of the redemption guarantee for each bank will not exceed the nominal amount of İTMK corresponding to the fact that they are issuers of the VFF portfolio. The above repurchase transactions are carried out by Halk Yatırım Menkul Değerler A.Ş. to be carried across.

WHAT IS PRIVILEGED TITLES (VDMK)?

Asset-backed securities (VDMK), as a new financing technique, are converted into marketable securities in the secondary market on the balance sheet. It is an alternative to conventional bank credit to finance real sector assets. Assets that may be subject to VDMK; a) may have trade receivables due to postpaid sales to customers in the year or to consumer loans, receivables arising from leases and financial institutions.
(NEWS CENTER)

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