VTB Capital has successfully completed a total of RUB 9bn securitization deals for DeltaCredit and Vozrozhdenie’s mortgage portfolios. Both DeltaCredit’s mortgage securities Series 11-IP valued at RUB 5bn and Mortgage Agent Vozrozhdenie 2’s senior tranche valued at RUB 2.96bn were placed on MICEX. At the same time, the junior tranche bonds amounting to RUB 1.04bn were acquired by Vozrozhdenie through a private placement.
Moody's has assigned a credit rating of Baa3 to the both banks’ tranches. The coupon rate is 8.5%. The placements were arranged within the Program for Mortgage-backed Securities Purchase sector – which has been developed by the Agency for Housing Mortgage Lending (AHML).
Andrey Suchkov, Head of Securitization at VTB Capital, said: "Along with the Agency for Housing Mortgage Lending, the securities were purchased also by private investors, which reflect the good prospects of the Russian market for mortgage securitization. It is worth noting that the structure of the Vozrozhdenie transaction for the first time in the Russia included the warehousing stage, which was provided by AHML."
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