Core Viewpoint - Hepsiburada, a leading Turkish e-commerce platform, has announced the issuance of TRY 500 million in asset-backed securities to support its Buy Now Pay Later (BNPL) business and improve working capital management [1][2]. Group 1: Financial Issuance Details - The fourth issuance of asset-backed securities amounts to TRY 500 million, part of a TRY 2 billion limit set by the Capital Markets Board for Pasha Yatırım Bank Hepsiburada Varlık Finansmanı Fonu, settled on March 12, 2025 [2]. - This issuance consists of five tranches with an average maturity of 70 days and an annual average interest rate of 42.75% [2]. - Previous issuances include TRY 150 million on June 5, 2024, TRY 350 million on September 27, 2024, and TRY 450 million on December 4, 2024 [3]. Group 2: Company Overview - Hepsiburada operates as a hybrid e-commerce platform combining first-party direct sales and a third-party marketplace with approximately 100,000 merchants [5]. - The platform offers a wide range of services including last-mile delivery, fulfillment services, advertising solutions, cross-border sales, payment services, and affordability solutions [6]. - Hepsipay, the integrated fintech platform of Hepsiburada, provides secure payment solutions such as digital wallets, general-purpose loans, BNPL, and one-click checkout [7]. Group 3: Social Impact - Since its founding in 2000, Hepsiburada has focused on empowering women in the Turkish economy, launching the 'Technology Empowerment for Women Entrepreneurs' program in 2017, which has supported nearly 57,500 female entrepreneurs [8].
Hepsiburada Announces the Fourth Issuance of Asset-backed Securities