28 December 2011
On December 27, 2011 Bank Vozrozhdenie closed a securitization deal on mortgage loans: Class A bonds amounting to Rub 2.931 bln were placed via public offering on MICEX, while Class B bonds in the amount of Rub 1.14 bln were acquired by the bank. Moody’s rating agency assigned Baa2 rating to Class A Bonds. VTB Capital was the underwriter of the issuance. Price of each Bond comprised Rub 1,000 that is 100% of nominal value.
“Despite tight liquidity in the Russian banking system we have managed to close the securitization deal within the planned timeframe and attract long-term financing to fund our operations. Moreover, the deal will support the bank’s liquidity position in the long-term perspective. We have securitized a part of the mortgage portfolio, that has already exceeded Rub 15 billion,” — commented Alexander Dolgopolov, Deputy Chairman of the bank’s Management Board.
On December 1, 2011 Federal Financial Markets Service registered issue of two bond types on the total amount of Rub 4.07 bln. State registration numbers of the issues are 4-01-76791-Н and 4-02-76791-Н. Bonds shall be fully repaid by August 10, 2044. “Mortgage agent Vozrozhdenie 1” is the issuer of the bonds.