Regulator registers Vozrozhdenie mortgage bonds totaling 4 bln rubles
MOSCOW. Dec 2 (Interfax) - The Federal Financial Markets Service (FFMS) has registered two classes of mortgage bonds from Vozrozhdenie Bank totaling about 4 billion rubles, the regulator said in a statement.
The bonds have been assigned the registration numbers 4-01-76791-N and 4-02-76791-N.
Vozrozhdenie's deputy chief executive, Alexander Dolgopolov said last week that the bank plans to begin placing these bonds in the middle of December.
Asked whether Vozrozhdenie foresees complications in placing the bonds due to liquidity problems in the banking sector, Dolgopolov said that the bank expects to place all the bonds. "We forecast that we will be able to do everything we want to do," he said, adding that there are already potential investors to buy the bank's mortgage bonds.
Vozrozhdenie's SPV company - Vozrozhdenie 1 Mortgage Agent - plans to issue 2.931 billion rubles in class A bonds, as well as class B bonds, with combined securitization totaling around 4 billion rubles.
The class A and B bonds mature on August 10, 2044. Interest for coupons 2-20 is set to equal the first coupon yield for class A bonds.
VTB Capital is organizing the bond placement.
As of the beginning of November, Vozrozhdenie's mortgage loan portfolio totaled 14.2 billion rubles.
Last year, the bank's plans for growth in mortgages and mortgage bond issues were a bit more aggressive. Dolgopolov said in November that the bank might securitize 5-6 billion rubles in mortgages in 2011 and that the mortgage portfolio might double from its total at the time to 18 billion rubles.
The bank was Russia's 26th largest by assets, according to the Interfax-100 ranking at the end of Q3 2011.
