VTB Capital has successfully completed a RUB 3.09bn securitization deal for Promsvyazbank’s mortgage portfolio.
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Moody's has assigned a credit rating of Baa3 to this tranche. 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: "VTB Capital continues to actively develop the securitization business of Russian assets. The securitization of the mortgage portfolio was the debut for the Promsvyazbank, which underlines the growing interest in this instrument of Russian financial institutions. I am sure that VTB Capital will continue to hold a leading position in this segment of the financial market, while maintaining our clients’ trust."