Promsvyazbank becomes latest Russian debutant

By Joseph McDevitt
04 Jul 2013

Russia’s Promsvyazbank has closed its first ever securitization of mortgages, providing another sign of the growing asset-backed market in the country.

Mortgage Agent PSB 2013 offered investors Rb2.5bn of class ‘A’ notes, which were rated Baa3 by Moody’s. The notes have a weighted average life of 3.43 years, assuming a conditional prepayment rate of 10% and conditional default rate of 2%. The senior tranche benefits from 23% credit enhancement, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.