Published: July 4, 2013
Deal reflects trend seen in Russia over past year.
VTB Capital, a Russian investment bank, has successfully closed a RUB3.09 (US$93.2mn) securitisation deal for the mortgage portfolio of local lender Promsvyazbank. With a coupon of 9.2%, the deal comes under the Program for Mortgage-Backed Securities, developed by the Agency for Housing Mortgage Lending.
Such deals have become increasingly popular in Russia over the past year, with nine of the 10 largest securitisation deals in the CEMEA region taking place in the country.