Sovcombank conducted a debut securitization deal for consumer loans worth 10 billion rubles

According to the bank's press service, the ACRA rating agency assigned the highest AAA(ru.sf) credit rating to the senior tranche of bonds, confirming the reliability of the transaction.

Unlike traditional securitization transactions, Sovcombank has applied a simulated planned repayment schedule for bonds during the amortization period, which makes it possible to predict its profile with a very high degree of reliability. After the end of the revolving period, Class A bonds are amortised by the amount specified in the documentation, calculated based on conservative assumptions for repayment of the collateral portfolio.

Applications were collected from February 20 to February 21. "We have seen record demand from all classes of investors, which confirms the attractiveness of this instrument and the high appreciation of the market. The successful completion of the transaction opens up new opportunities for the bank's capital management and will become an important impetus for the development of the securitization market in the country," said Sergey Khotimsky, First Deputy Chairman of the Board of Sovcombank.