Corporate Communications

VTB Capital successfully completes a securitisation of FORA-BANK mortgage portfolio

29 December 2014

VTB Capital has successfully completed the RUB 1.48 billion securitisation deal for FORA-BANK mortgage portfolio.

Two classes of mortgage bonds were issued ("A" and "B"). The size of the "A" class tranche is RUB 1.18 billion and the size of "B" is RUB 296.642 million. The coupon rate for class "A" has been set at 9.5%. The legal final maturity of the senior tranches is 15.10.2047.

Class "A" bonds were issued as part of the HMLA’s programme for buying mortgage bonds, while class "B" bonds were bought by FORA-BANK through closed subscription.

Andrey Suchkov, Head of Securitisation at VTB Capital, said: "Despite the difficult market conditions, VTB Capital continues to actively develop securitisation business, having realised in 2014 a number of landmark transactions in this segment. Successful implementation of the securitsation of FORA-BANK mortgage portfolio once again demonstrates the effectiveness and high value of securitisation segment for the Russian mortgage market."

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Natalia Cherepova

VTB Capital

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