VTB 24, AIZhK to issue 50 bln rbl mtge bonds by end-Aug

VTB 24, the retail arm of Russia’s second largest bank VTB Bank, and the Agency for Housing Mortgage Lending (AIZhK) plan to issue 50 billion rubles worth of mortgage bonds for institutional investors until the end of August and will consider issuing similar bonds for households, VTB 24 CEO Mikhail Zadornov said at a news conference on Thursday. The issuers expect that the new financial instrument will be interesting to private pension funds, insurance companies and other market participants, he said. Zadornov added that the bank may issue mortgage bonds for households on the back of the launch of OFZ government bonds for household offering. “We are testing demand for OFZ bonds for people and will later make a decision on the size of the issue,” he said. (58.0824 rubles – U.S. $1)

• Full name
  Bank VTB 24 (public joint-stock company)
• Registration country
  Russia
• Industry
  Banks