Nomos prepares RMBS, new sub debt
Nomos Bank has announced plans to sell a further $300m of subordinated global notes to add to the $500m sold in April. Ahead of that, it is also preparing to issue an RMBS deal backed by Russian mortgages, in what would be the second such deal to emerge in as many months.
The Ba3/BB rated bank was the first of a string of Russian lenders to tap the sub debt market this year, printing a seven-year lower tier two bullet at 10% on April 20.
Banks have yet to be mandated for the new sub debt issue and no date has
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