In 2011, the Board of Directors decided to securitize a part of the bank’s mortgage portfolio in order to optimize the bank’s funding structure and attract additional resources for mortgage lending expansion. In accordance with the Federal law № 152-FZ as of November 11, 2003 “On mortgage-backed securities”, five SPV companies were incorporated to structure the deals: Closed Joint Stock Company “Mortgage agent Vozrozhdenie 1” (CJSC “MAV 1”) registered on July 8, 2011, Closed Joint Stock Company “Mortgage agent Vozrozhdenie 2” (CJSC “MAV 2”) registered on August 06, 2012 , Closed Joint Stock Company “Mortgage agent Vozrozhdenie 3” (CJSC “MAV 3”) registered on November 12, 2013, Limited Liability Company “Mortgage agent Vozrozhdenie 4” (LLC “MAV 4”) registered on November 10, 2014 and Limited Liability Company “Mortgage agent Vozrozhdenie 5” (LLC “MAV 5”) registered on October 12, 2016. The sole function of these legal entities is acquiring mortgage certificates or rights of claim on mortgage-backed loans and issuing mortgage-backed bonds.

On December 01, 2011, the Federal Financial Markets Service registered two issues of non-convertible interest-bearing documentary mortgage-backed bonds payable to the bearer with obligatory centralized keeping of CJSC “MAV 1”. On December 27, 2011, the issues were placed as follows:

  • class “A” bonds for the total amount of Rub 2.93 bln via CJSC SE MICEX Stock Exchange by public offering;
  • class “B” bonds for the total amount of Rub 1.14 bln by private offering to Vozrozhdenie Bank.

Maturity date of the issues is August 10, 2044. Сlass “A” bonds were placed among the unlimited range of investors with a coupon rate of 8.95%.

Class A and class B bonds were redeemed on November 10, 2016 (ahead of schedule) as per the decision of the Issuer (Resolution #19 of LLC TMF RUS, the management company of the Issuer, of October 18, 2016) according to the clause 9.5. of the Decision on the issue of Class A Bonds and the clause 9.5. of the Decision on the issue of Class B Bonds.

On February 21, 2013, the Federal Financial Markets Service registered issues of “A” class and “B” class non-convertible interest-bearing documentary mortgage-backed bonds payable to the bearer with obligatory centralized keeping of CJSC “MAV 2”. On April 2, 2013, the issues were placed as follows:

  • class “A” bonds for the total amount of Rub 2.96 bln via CJSC SE MICEX Stock Exchange by public offering;
  • class “B” bonds for the total amount of Rub 1.04 bln by private offering to Vozrozhdenie Bank.

Maturity date of the issues is August 25, 2045. Сlass “A” bonds were placed among the unlimited range of investors with a coupon rate of 8.5%.

Class A and class B bonds were redeemed on December 10, 2016 (ahead of schedule) as per the decision of the Issuer (Resolution #SEB26 of LLC TMF RUS, a management company of the Issuer, of December 13, 2016).

On February 27,2014, and March 18, 2014, Bank of Russia registered issues of class “B” and class “A” non-convertible interest-bearing documentary mortgage-backed bonds payable to the bearer correspondingly with obligatory centralized keeping of CJSC “MAV3”. On March 26, 2014, the issues were placed as follows:

  • class “A” bonds for the total amount of Rub 3.00 bln via CJSC SE MICEX Stock Exchange by public offering;
  • class “B” bonds for the total amount of Rub 0.45 bln by private offering to Vozrozhdenie Bank.

Maturity date of the issues is October 26, 2046. Сlass “A” bonds were placed among the unlimited range of investors with a coupon rate of 9.00%.

Class B bonds were redeemed on December 29, 2016 (ahead of schedule) as per the decision of the Issuer (Resolution # 04/02/2016/MAV3/ of December 29, 2016, of LLC TKS-Management, a management company of the Issuer).

On April 28, 2015, and May 26, 2015, Bank of Russia registered issues of class “B” and class “A” non- convertible interest-bearing documentary mortgage-backed bonds of LLC “MAV4”payable to the bearer correspondingly with obligatory centralized keeping, which were placed on June 03, 2015 as follows:

  • class “A” bonds for the total amount of Rub 3.00 bln via CJSC SE MICEX Stock Exchange by public offering;
  • class “B” bonds for the total amount of Rub 0.45 bln by private offering to Vozrozhdenie Bank.

Maturity date of the issues is January 27, 2048. Сlass “A” bonds were placed among the unlimited range of investors with a coupon rate of 9.00%.

Class B bonds were redeemed on December 29, 2016 (ahead of schedule) as per the decision of the Issuer (Resolution # 05/02/2016/MAV4/ of December 29, 2016, of LLC TKS-Management, a management company of the Issuer).

On April 13, 2017, Bank of Russia registered issues of non-convertible interest-bearing documentary mortgage-backed bonds of LLC “MAV5”payable to the bearer correspondingly with obligatory centralized keeping, which were placed on May 11, 2017 as follows:

  • bonds for the total amount of Rub 4.1 bln via PJSC Moscow Stock Exchange by public offering;

Maturity date of the issues is August 28, 2049. Bonds were placed among the unlimited range of investors with a coupon rate of 9.25%.

For further information on mortgage agents and placements of the relevant issues of the mortgage- backed bonds, please refer to the following web-sites:

CLOSED JOINT STOCK COMPANY “MORTGAGE AGENT VOZROZHDENIE 1”

CLOSED JOINT STOCK COMPANY “MORTGAGE AGENT VOZROZHDENIE 2”

CLOSED JOINT STOCK COMPANY “MORTGAGE AGENT VOZROZHDENIE 3”

CLOSED JOINT STOCK COMPANY “MORTGAGE AGENT VOZROZHDENIE 4”

CLOSED JOINT STOCK COMPANY “MORTGAGE AGENT VOZROZHDENIE 5”