Corporate Communications

VTB Group has raised funding by means of Bank VTB 24’s car loans portfolio securitization

3 August 2012
VTB Group raised $275 mln from international investor through the securitization of the auto loan portfolio of Bank VTB24. The duration of the financing is eight years, with the call option in two years. The sold pool of loans was denominated in rubles, so that the structure of the transaction involves a non-standard mechanism for hedging currency and interest rate risks.

The Co-Arrangers of the deal were The Bank of Tokyo-Mitsubishi UFJ and VTB Capital.

Andrey Suchkov, Head of Securitization at VTB Capital, said: "The deal is the first cross-border car loan securitization in Russia after the 2008 crisis. This operation provides a diversification of the funding sources of VTB Group, and we are confident that it will create new, permanent funding resources for the Group, including its retail business."
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