Hepsiburada Announces the Second Issuance of Asset-backed Securities
Hepsiburada (NASDAQ: HEPS), a leading Turkish e-commerce platform, has announced its second issuance of asset-backed securities amounting to TRY 350 million. The issuance, which settled on September 27, 2024, is part of a TRY 2 billion limit approved by the Capital Markets Board for Pasha Yatırım Bank Hepsiburada Varlık Finansmanı Fonu. Hepsiburada participated as the originating entity for its BNPL (Buy Now, Pay Later) receivables.
The issue comprises six tranches with an average maturity of 84 days and an annual average interest rate of 51.00%. Hepsiburada plans to use the funds to sustainably grow its BNPL business and reduce its impact on working capital.
Hepsiburada (NASDAQ: HEPS), una delle principali piattaforme di e-commerce turche, ha annunciato la sua seconda emissione di titoli garantiti da attivi per un importo di 350 milioni di TRY. L'emissione, che si è conclusa il 27 settembre 2024, fa parte di un limite di 2 miliardi di TRY approvato dalla Commissione dei Mercati Capitale per il Fondo di Finanza Patrimoniale Pasha Yatırım Bank Hepsiburada. Hepsiburada ha partecipato come entità originante per i suoi crediti BNPL (Compra Ora, Paga Dopo).
L'emissione comprende sei tranche con una scadenza media di 84 giorni e un tasso d'interesse medio annuo del 51,00%. Hepsiburada prevede di utilizzare i fondi per crescere in modo sostenibile la propria attività BNPL e ridurre il proprio impatto sul capitale circolante.
Hepsiburada (NASDAQ: HEPS), una de las principales plataformas de comercio electrónico turcas, ha anunciado su segunda emisión de valores respaldados por activos por un monto de 350 millones de TRY. La emisión, que se liquidó el 27 de septiembre de 2024, es parte de un límite de 2 mil millones de TRY aprobado por la Junta del Mercado de Capitales para el Fondo de Financiamiento de Activos Pasha Yatırım Bank Hepsiburada. Hepsiburada participó como entidad originante para sus cuentas por cobrar BNPL (Compra Ahora, Paga Después).
La emisión consta de seis tramos con un plazo promedio de 84 días y un tasa de interés promedio anual del 51,00%. Hepsiburada planea utilizar los fondos para hacer crecer de manera sostenible su negocio BNPL y reducir su impacto en el capital de trabajo.
Hepsiburada (NASDAQ: HEPS), 튀르키예의 주요 전자상거래 플랫폼 중 하나가 자산 담보 증권의 두 번째 발행을 발표했습니다. 발행액은 3억 5천만 TRY입니다. 이 발행은 2024년 9월 27일에 체결되었으며, Pasha Yatırım Bank Hepsiburada 자산 금융 기금에 대해 자본 시장 위원회가 승인한 20억 TRY 한도의 일환입니다. Hepsiburada는 BNPL (지금 구매하고 나중에 지불하기) 채권의 원래 발행자로 참여했습니다.
이번 발행은 6개 트랜치로 구성되어 있으며 평균 만기 84일과 연평균 이자율 51.00%를 기록합니다. Hepsiburada는 이 자금을 사용하여 BNPL 비즈니스를 지속 가능하게 성장시키고 운영 자본에 대한 영향을 줄인다는 계획입니다.
Hepsiburada (NASDAQ: HEPS), une des principales plateformes de commerce électronique turques, a annoncé sa deuxième émission de titres adossés à des actifs d'un montant de 350 millions de TRY. L'émission, qui s'est réglée le 27 septembre 2024, fait partie d'un plafond de 2 milliards de TRY approuvé par l'Autorité des marchés de capitaux pour le Fonds de financement d'actifs Pasha Yatırım Bank Hepsiburada. Hepsiburada a participé en tant qu'entité d'origine pour ses créances BNPL (Achetez maintenant, payez plus tard).
L'émission se compose de six tranches avec une durée de maturité moyenne de 84 jours et un taux d'intérêt annuel moyen de 51,00%. Hepsiburada prévoit d'utiliser les fonds pour développer durablement son activité BNPL et réduire son impact sur le fonds de roulement.
Hepsiburada (NASDAQ: HEPS), eine führende türkische E-Commerce-Plattform, hat ihre zweite Emission von asset-backed Securities in Höhe von 350 Millionen TRY angekündigt. Die Emission, die am 27. September 2024 abgewickelt wurde, ist Teil eines Genehmigungsrahmens von 2 Milliarden TRY, der von der Kapitalmarktaufsichtsbehörde für den Pasha Yatırım Bank Hepsiburada Vermögensfinanzierungsfonds genehmigt wurde. Hepsiburada nahm als originierende Partei für ihre BNPL (Buy Now, Pay Later)-Forderungen teil.
Die Emission besteht aus sechs Tranchen mit einer durchschnittlichen Laufzeit von 84 Tagen und einem durchschnittlichen Jahreszinssatz von 51,00%. Hepsiburada plant, die Mittel zu nutzen, um sein BNPL-Geschäft nachhaltig zu wachsen und seinen Einfluss auf das Betriebskapital zu reduzieren.
- Successful second issuance of asset-backed securities worth TRY 350 million
- Part of a larger TRY 2 billion limit approved by the Capital Markets Board
- Funds to be used for sustainable growth of BNPL business
- Potential reduction in working capital impact
- High annual average interest rate of 51.00% on the issued securities
Insights
The second issuance of asset-backed securities by Hepsiburada is a significant financial move that demonstrates the company's strategic approach to funding its operations. The
The structure of the issuance, consisting of six tranches with an average maturity of 84 days and an annual average interest rate of
By using its BNPL receivables as the underlying assets, Hepsiburada is effectively monetizing its consumer credit portfolio. This strategy not only provides immediate capital but also transfers some of the credit risk to investors. The move to grow the BNPL business could lead to increased customer retention and higher average order values, potentially boosting Hepsiburada's market share in the competitive Turkish e-commerce landscape.
ISTANBUL, Sept. 30, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform, today announced the second issuance of asset-backed securities amounting to TRY 350 million.
The second issuance of asset-backed securities amounting to TRY 350 million, within the scope of the TRY 2 billion limit given by the Capital Markets Board to Pasha Yatırım Bank Hepsiburada Varlık Finansmanı Fonu, settled on September 27, 2024. In this structure, Hepsiburada participated as the originating entity with respect to its BNPL receivables. The issue consists of six tranches with an average maturity of 84 days and at an annual average interest rate of
About Hepsiburada
Hepsiburada is a leading e-commerce technology platform in Türkiye, connecting over 66 million members with over 264 million stock keeping units across over 30 product categories. Hepsiburada provides goods and services through its hybrid model combining first-party direct sales (1P model) and a third-party marketplace (3P model) with approximately 101 thousand merchants.
With its vision of leading the digitalization of commerce, Hepsiburada acts as a reliable, innovative and purpose-led companion in consumers’ daily lives. Hepsiburada’s e-commerce platform provides a broad ecosystem of capabilities for merchants and consumers including: last-mile delivery and fulfilment services, advertising services, on-demand grocery delivery services, and payment solutions offered through Hepsipay, Hepsiburada’s payment companion and BNPL solutions provider. HepsiGlobal offers a selection from international merchants through its inbound arm while outbound operations aim to enable merchants in Türkiye to make cross-border sales.
Since its founding in 2000, Hepsiburada has been purpose-led, leveraging its digital capabilities to develop the role of women in the Turkish economy. Hepsiburada started the ‘Technology Empowerment for Women Entrepreneurs’ programme in 2017, which has supported approximately 55 thousand female entrepreneurs throughout Türkiye to reach millions of customers with their products.
Investor Relations Contact
ir@hepsiburada.com
Media Contact
corporatecommunications@hepsiburada.com
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995, and encompasses all statements, other than statements of historical fact contained in this press release. These forward-looking statements can be identified by terminology such as “may,” “could,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to” and similar statements. These forward-looking statements are based on management’s current expectations. However, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties and other important factors and circumstances that may cause Hepsiburada’s actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements, including conditions in the U.S. capital markets, negative global economic conditions, potential negative developments resulting from epidemics or natural disasters, other negative developments in Hepsiburada’s business or unfavorable legislative or regulatory developments. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. For a discussion of additional factors that may affect the outcome of such forward-looking statements, see our 2023 annual report filed with the SEC on Form 20-F on April 30, 2024 (Commission File Number: 001-40553), and in particular the “Risk Factors” section, as well as the other documents filed with or furnished to the SEC by Hepsiburada from time to time. Copies of these filings are available online from the SEC at www.sec.gov, or on the SEC Filings section of our Investor Relations website at https://investors.hepsiburada.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. These forward looking statements should not be relied upon as representing Hepsiburada’s views as of any date subsequent to the date of this press release. All forward-looking statements in this press release are based on information currently available to Hepsiburada, and Hepsiburada and its authorized representatives assume no obligation to update these forward-looking statements in light of new information or future events. Accordingly, undue reliance should not be placed upon the forward-looking statements.
FAQ
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