VTB Capital closes securitisation deal for Bank Petrocommerce
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."
VTB Capital, the Investment Business of VTB Group, is one of the three strategic business arms of VTB Group, along with the corporate and retail businesses. Since its foundation in 2008, VTB Capital has taken part in more than 460 ECM and DCM deals, which were instrumental in attracting more than USD 189bn worth of investments to Russia and CIS.
VTB Capital offers a full range of investment banking products and services to Russian and international clients, focusing on arranging operations in the debt, equity, global commodities markets, developing investment and asset management, advising clients on M&A and ECM deals in Russia and abroad. VTB Capital operates in Moscow, London, Singapore, Dubai, Hong Kong, Sofia, New York, Paris and Vienna, with headquarters in Moscow.
VTB Capital holds top positions in the debt and equity capital markets, as well as M&A, in Russia, CIS and CEE according to the league tables for 2011-2013 by Dealogic, Bloomberg and Thomson Reuters.
This press-release does not constitute an offer to the public or an advertisement of securities in the Russian Federation, is not an offer or an invitation to make offers, to purchase securities in the Russian Federation and must not be passed on to third parties or otherwise made publicly available in the Russian Federation.
Vadim Bely 188.8.131.52.184.108.40.206.220.127.116.11.18.104.22.168.22.214.171.124.126.96.36.199.133
Julia Govorun 188.8.131.52.184.108.40.206.220.127.116.11.18.104.22.168.22.214.171.124.126.96.36.199.188.8.131.52