Securitization

Our Services

Securitization, mortgage assets, mortgage certificates

• Preparation of the Term Sheet
• Establishing the mortgage agent
• Preparation of the contract base
• Preparation of the emission documents necessary for the issuance of the mortgage assets
• Legal advice on receiving ratings
• Registration and issuance of mortgage bonds
• Control of the placement of mortgage bonds, registering the reports on the results of the issuance.
• Circulation of the mortgage bonds and their inclusion in the quotation lists of the organizers

Our Experience

Legal support for the securitization of Russian assets:

2005 -First balance securitization of assets belonging to a resident lending agency, i.e. CJSC ‘Bank Zhilishnogo Finansirovaniya’ by issuing bonds backed by the pledge of incorporeal rights for the credit agreement, placement value – RUB 500 million

2006 - Mortgage-backed bond issue for “Ipotechnaya spetsializirivannaya organizatsiya GPB-Ipoteka” (previously known as AKB “Sovfintrade”), the total placement - RUB 3 billion - the first ever Russian issue of mortgage bonds that were regulated by Russian law dealing with the securitization of mortgage assets

2007 - The first ever Russian issue of subordinated mortgage bonds by ZAO “First Mortgage Agent AHML, total placement value – RUB 3.3 billion, OAO “AHML” acting as originator. Mortgage-backed bond issue of OJSC KB MIA; the total placement value - RUB 2 billion

2008 - The second issue of subordinated mortgage bonds by ZAO “Second Mortgage Agent AHML, total placement value – RUB 10.7 billion, OAO “AHML” acting as originator.

Related practices

Related deals

30.07.2010PROJECT FINANCE IN RUSSIA: A NEW DRAFT LAW IS PREPARED BY THE MINISTRY FOR ECONOMIC DEVELOPMENT OF RUSSIA AND LINIYA PRAVA