Issue information:
| • Issuer, issue number: |
BTA Hypothec, 2029-A (RMBS, FRN) |
| • SPV: |
Kazakh Mortgage-Backed Securities 2007-1 B.V. |
| • Type of debt instrument:
| Eurobonds |
| • Type of bonds: |
Coupon bonds |
| • Securitisation: |
Yes |
| • Issue status: |
outstanding |
| • Par, minimum denomination: |
100000
USD, 100 000.0 |
| • Par, integral multiple: |
USD, 10 000.0
|
| • Indexation: |
In addition to payment of US$ LIBOR and the Relevant Senior Margin, in respect of each Interest Period ending after the Call Date, the Loan Notes of each class will represent entitlements to payment of subordinated interest at the following applicable
margins (each a "Subordinated Step-up Margin"):
Class A Loan Notes 1.25 per cent.(the "Subordinated Step-up Margin on Class A Loan
Notes")
New coupon 1M LIBOR + 250 bps |
| • Amount: |
123 000 000 |
| • ISIN RegS: |
XS0293196266 |
| • Common Code RegS: |
029319626 |
| • CFI RegS: |
DBVXGB |
| • Day Count Fraction: |
Actual/360 |
| • Start of placement: |
Feb 22 2006 |
| • End of placement: |
Mar 29 2007 |
| • Coupon: |
1M LIBOR + 125 bps |
| • Coupon frequency: |
12 time(s) per year |
| • Floating rate: |
Yes |
| • Reference rate: |
1m LIBOR |
| • Margin: |
1.25% |
| • Settlement Date: |
May 15 2007 |
| • Maturity date: |
May 15 2029 |
| • Issue price: |
100 |
| • Rating on issue date (M/S&P/F): |
A3/—/A- |
| • Listing: |
Luxembourg Stock Exchange |
| • Issue ratings: (rating history) |
|
| • Additional information: |
SPV: Kazakh Mortgage-Backed Securities 2007-1 B.V.
Structure Type: True Sale/Pass-Through
The transaction is a securitisation of first-ranking residential mortgage loans denominated in Kazakh Tenge (KZT) and indexed to USD/KZT exchange rate, together with their ancillary rights. The loans are secured on properties located in the Republic of Kazakhstan. The originator and seller of the mortgage portfolio is JSC BTA Ipoteka
Initial credit enhancement of 15.5% on the Class A notes will be provided by the subordination of the Class B notes (8.0%) and the Class C notes (5.0%). Further credit enhancement is available in the form of a fully funded cash reserve in the amount of 2.5% of the issuance. A liquidity facility will be made available to cover interest and senior fees shortfalls up to a limit of 5% of the outstanding balance of the notes. ABN AMRO Bank will provide an interest-rate swap to hedge the interest-rate risk between the fixed rate accrued by the loans and the Libor-based coupon of the notes. The transaction will benefit from a political risk insurance policy provided by the Multilateral Investment Guarantee Agency, a company of the World Bank Group that will make available liquidity to the transaction in the event that certain risks associated with any restriction on the convertibility and transfer of hard currency out of the country are imposed by the authorities of the Republic of Kazakhstan.
Class/Amount/Coupon/Ratings/average life
Class A/$123/1mLibor+125bp/(A3/-/A-)/2.13y
Class B/$11.3/1mLibor+200bp/(Baa2//BBB)/4y
Class C/$7.1/1mLibor+375bp/(Ba2//BB)/4y
ISIN:
XS0293196266/ XS0293196696/ XS0293196779
Geographical distribution: Germany 40%, Austria 24%, non-Europe 18%, UK 7%, Portugal 5%, Greece 6%
|
| • Files: |
KazMortBaSe29 Prospectus
|
| • Investment banks:
| Bookrunner:
RBS
|
|
Borrower:
| • Issuer: | BTA Hypothec |
| • List of affiliated companies: |
BTA bank,BTA Bank (Russia),BTA Securities,BTA ORIX Leasing,BTA-Kazan Bank ,,BTA Bank Ukraine,BTA Bank (Georgia),BTA Bank (Belarus) |
| • Full issuer name: | BTA Hypothec JSC |
| • Country: | Kazakhstan |
| • Region: | CIS |
| • Web site: | http://ipoteka.kz/ru/ |
| • Other issues of the issuer (including related companies issues): |
 BTA Hypothec, 2029-B (RMBS, FRN) - Eurobonds
BTA Hypothec, 2029-C (RMBS, FRN) - Eurobonds
BTA Hypothec, 2 (RMBS, FRN) - Eurobonds
|
| • Issuer profile: | Primary activity: mortgage financing, loan operations and consulting services for individuals, businesses and institutions.
Acting licenses:
License from the Agency for financial supervision and ... |
| • Industry: | Banks and financial institutions |
|
Complete profile |
SPV:
|
