CBM debut shows ABS's worth amid Russian volatility

By Tom Porter
19 Jun 2014

Credit Bank of Moscow became the latest debutant in the Russian RMBS market this week, placing its deal with private investors and demonstrating the product’s value to the country’s banks in volatile markets.

Credit Bank of Moscow sold Rb3.4bn (€73m) of ‘Class A’ 25 year bonds, rated Baa3 by Moody’s, at an annual coupon of 10.65% this week through arranger and placement agent VTB Capital, in addition to retaining Rb984m of ‘Class B’ bonds.

“For the bank it was very important ...

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