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Series 09-IP bonds of DeltaCredit 1.5 times oversubscribed

December 5, 2012
DeltaCredit closed an order book for Series 09-IP bonds on December 4. The RUB 5bn issue matures in 5 years. The issue has a 3-year put option. Investors placed 12 orders exceeding RUB 8.5bn, so the issue is more than 1.5 times oversubscribed. The bulk of bids was in the range 8.90% - 9.25%. The coupon was set at 9.15% based on bookbuilding results.

The issue is the first mortgage-backed bond issued from the bank's own books rated Baa1 by Moody’s, two notches above the corporate rating. The rating agency's decision was based on the quality of the underlying mortgage pool and was backed by Federal Law 152 "On Mortgage-backed Securities". T

he sale on the MICEX is due 11 December 2012. VEB Capital and Rosbank are arrangers on the issue. Rosbank is the technical underwriter on the issue.
  • Status
  • Country of risk
  • Redemption (put/call option)
    *** (***)
  • Amount
    5,000,000,000 RUB
  • М/S&P/F
    — / — / —
Company — DeltaCredit Bank
  • Full name
    Commercial bank DeltaCredit Joint stock company
  • Registration country
  • Industry