VTB Capital has successfully completed a RUB 4.7 billion securitisation deal for Bank Petrocommerce’s mortgage portfolio. The placement was arranged within the Mortgage-backed Securities Purchase Programme developed by the Agency for Housing Mortgage Lending (AHML).
Moody's has assigned a credit rating of Baa3 to the bank tranche and the coupon rate is 8.75%. The senior tranche issue was placed by open subscription on the MICEX.
Andrey Suchkov, Head of Securitisation at VTB Capital, said: "VTB Capital continues to actively develop its securitisation business, particularly in the area of mortgage financing operations. The coupon, which was contracted a year ago on the results of the AHML’s tender, allowed Bank Petrocommerce to obtain funding in the current environment at a price substantially below market value. Following on from the success of this first joint transaction, we have reached an agreement on further cooperation. I am confident that VTB Capital will retain a leading position in this financial market segment in the future."
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