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On Confirming the Possibility of Vnesheconombank’s Purchase of Mortgage-Backed Bonds Issued under the Program of Vnesheconombank’s Investments in Affordable Housing Construction and Mortgage Lending Projects

9 july 2010 года
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Hereby we inform you that as of 01.07.2010, the possibility was confirmed that during the Program’s effective period Vnesheconombank would purchase bonds originated by the Housing Mortgage Lending Agency and banks that submitted applications at par value provided that the bonds at the date of their issue comply with “Requirements for Bonds Including Mortgage-Backed Bonds and Mortgage Coverage of Bonds Purchased under the Program of Vnesheconombank’s Investments in Affordable Housing Construction and Mortgage Lending in 2010-2012” (hereinafter referred to as Requirements) in the following amounts:

  • Vnesheconombank is to purchase relevant issues of bonds in the amount of up to 100% of the sum specified in the application provided that a credit institution is an issuer of bonds and has a credit rating that complies with Requirements or its bond issues are guaranteed by the Housing Mortgage Lending Agency (Condition 1);
  • Vnesheconombank is to purchase senior tranches of relevant bond issues in the amount of up to 90% of the sum specified in the application provided that a credit institution issues mortgage-backed bonds through its agent (Condition2).

 

NAME OF CREDIT INSTITUTIONS AMOUNT OF BONDS PURCHASED BY VNESHECONOMBANK UPON MEETING CONDITION 1,
(BILLION RUBLES)		 AMOUNT OF BONDS PURCHASED BY VNESHECONOMBANK UPON MEETING CONDITION 2,
(BILLION RUBLES)
OJSC Gazprombank 30,0 27,0
OJSC Uralsib 20,0 18,0
OJSC Khanty-Mansi Bank 7,0 6,3
OJSC Investtorgbank 6,0 5,4
OJSC Bank Vostochny 5,0 4,5
CJSC VTB 24 5,0 4,5
CJSC Housing Lending Bank 2,5 2,25

 

2/3 of bonds originated by a credit institution are scheduled to be purchased with a coupon rate of 9% by way using pension savings funds, 1/3 of bonds - with a coupon rate of 3% by way of using Vnesheconombank’s own funds.

Bonds originated by the Housing Mortgage Lending Agency are to be purchased at par value by Vnesheconombank in the total amount of 25 billion rubles, out of these bonds, bonds in the amount of 16.7 billion rubles are scheduled to be purchased with a coupon rate of 9% by way of using pension savings funds and bonds in the amount of 8.4 billion rubles are scheduled to be purchased with a coupon rate of 3% by way of using Vnesheconombank’s own funds.

 

Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru

 
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