VTB Capital has pulled off a 3.3bn-ruble ($107.1m) deal to securitise a mortgage portfolio for Investtradebank, a Moscow-based lender also known as Investtorgbank.
The senior tranche of the mortgage securities, placed on Moscow stock exchange Micex by open tender, is expected to raise about 2.4bn rubles ($77.8m) for Investtradebank, according to a statement from the brokerage arm of Russia’s VTB banking group.
Moody’s has assigned a rating of BAA3 to the tranche.
The transaction is VTB Capital’s first deal under the Russian government’s programme to boost Russia’s mortgage market.
Investtradebank, whose impressive range of services includes investment, broking, and corporate and private banking, caught media attention early in September as police raided its headquarters and some of its Moscow branches in an alleged crackdown on illegal banking.