Promsvyazbank becomes latest Russian debutant

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

  • By Joseph McDevitt
  • 04 Jul 2013
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, ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,084 31 17.18
2 Bank of America Merrill Lynch (BAML) 9,637 29 10.97
3 Citi 8,093 21 9.22
4 Lloyds Bank 7,329 24 8.35
5 JP Morgan 6,580 10 7.49

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1 Citi 128,786.28 373 11.27%
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3 JPMorgan 100,646.92 291 8.81%
4 Wells Fargo Securities 91,306.23 262 7.99%
5 Credit Suisse 75,502.58 201 6.61%