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Bond Issues: Eurobonds KIT Finance Investment Bank, 2040-B (RMBS)

Issue information:

• Issuer, issue number: KIT Finance Investment Bank, 2040-B (RMBS)
• SPV: RUMBA S.A.
• Income calculation:

Date of trades
Price %
• Type of debt instrument: Eurobonds
• Type of bonds: Coupon bonds
• Securitisation: Yes
• Issue status: outstanding
• Par, minimum denomination: RUR, 2 000 000.0
• Par, integral multiple: RUR, 200 000.0
• Amount: 605 000 000
• ISIN RegS: XS0351873756
• Common Code RegS: 035187375
• CFI RegS: DBFXGB
• DCC RegS: RF0000013656
• Day Count Fraction: Actual/Actual (ISDA)
• Start of placement: Mar 2008
• End of placement: Apr 16 2008
• Coupon: 9.0%
• Coupon frequency: 12 time(s) per year
• Settlement Date: Apr 25 2008
• Maturity date: Oct 25 2040
• Issue price: 100
• Rating on issue date (M/S&P/F): —/BB/—
• Listing: Irish Stock Exchange
• Issue ratings: (rating history)
Standard & Poor's BB Int. Scale (loc. curr.) 22.06.2011
• Additional information: Class/Amount/Coupon/Average life/ Ratings/
Class A/ 5445, RUB/8.75%/ 3.05/(-/BBB+/-)
Class B/ 605, RUB/9.00%/ 5.06/ (-/BB/-)
The mortgage certificates that form the underlying collateral pool are fixed-rate, ruble-denominated loans, which are secured by a first lien over residential properties in Russia. All loans were originated by KIT Finance Investment bank (KIT).

Interest on the notes will be payable monthly in arrears on the 25th day of each month, while principal will be paid sequentially on a pass-through basis, with a potential future switch to pro rata payment (subject to performance triggers). The structure also includes a cash reserve fund of 2.25%, a commingling reserve fund of 4.25%, and overcollateralization of 6.5% of the initial principal balance of the mortgage loans, excluding overcollateralization assets (all funded from the proceeds of a subordinated loan advanced to the issuer).

Concentration St. Petersburg (16.2%)
Weighted-average current LTV ratio (%) 65.34
Maximum LTV ratio (%) 89.90
Cash reserve 2.25% of the initial principal balance of the loans, fully funded at closing, nonamortizing, growing to 3.75% if 90+ delinquencies > 3%
Commingling reserve fund 4.25% of the initial principal balance of the loans, fully funded at closing
Overcollateralization 6.50% of the initial principal balance of the loans
• Files: RumbaSA PROSPECTUS
SP Pre-sale
• Investment banks: Bookrunner(s):
Morgan Stanley
KIT Finance Investment Bank

Borrower:

• Issuer:KIT Finance Investment Bank
• List of affiliated companies: KIT Finance,KIT Finance Investment Bank OJSC,KIT Finance Capital
• Full issuer name:KIT Finance Investment bank
• Country:Russia
• Region:CIS
• Web site:http://www.kfib.ru
• Other issues of the issuer (including related companies issues):  KIT Finance Investment Bank, 2040-A (RMBS) - Eurobonds
 KIT Finance Investment Bank, 2048-A (RMBS) - Eurobonds
 KIT Finance Investment Bank, 2048-B (RMBS) - Eurobonds
• Issuer profile:KIT Finance is a Russian independent investment bank, a leader in providing financial services to corporations, institutional and individual investors. The bank's strategic business lines are investme ...
• Industry:Banks and financial institutions
Issuer ratings: » rating history

Moody's Investors Service Withdrawn Int. Scale (foreign curr) 13.10.2009
Standard & Poor's Withdrawn Int. Scale (foreign curr.) 05.02.2008
Standard & Poor's Withdrawn Int. Scale (loc. curr.) 05.02.2008
Fitch Ratings B/Stable Int. Scale (foreign curr.) 16.08.2011
Moody's Interfax Rating Agency Withdrawn National Scale (Russia) 13.10.2009
National Rating Agency AAA National scale (Russia) 10.05.2011
• News on the issuer: 16.11.05 Russian Railways RUR15bn bonds placed in one day
15.11.05 CIT Finance debut RUR 2bn bond issue registered
04.10.05 CIT Finance names Head of Research
07.09.05 Web-invest Bank changes name to Investment bank CIT Finance
30.09.04 North-West Telecom and Web-invest Bank to launch bond issue for 3 bln roubles
View all news

Complete profile

SPV:

• Issuer:RUMBA S.A.
• List of affiliated companies: KIT Finance Investment Bank,KIT Finance,KIT Finance Investment Bank OJSC,KIT Finance Capital
• Full issuer name:RUMBA S.A.
• Country:Luxembourg
• Region:Developed Markets
• Issuer profile:KIT Finance Investment Bank's SPV ...

Complete profile

Consolidated IFRS reports:

20121 Q.
20111 Q. 2 Q. 3 Q. 4 Q.
20101 Q. 2 Q. 3 Q. 4 Q.
20091 Q. 2 Q. 3 Q. 4 Q.
20081 Q. 2 Q. 3 Q. 4 Q.
20071 Q. 2 Q. 3 Q. 4 Q.
20061 Q. 2 Q. 3 Q. 4 Q.
20051 Q. 2 Q. 3 Q. 4 Q.
20041 Q. 2 Q. 3 Q. 4 Q.

Early redemption terms:

Call option – 25/04/2013;
Right to Sell (PUT) – 25/05/2013

Date Type Price
25.04.2013 call 100
25.05.2013 put 100

Payment schedule:

# Date Coupon, % p.a. Coupon size, RUR Par redemption, RUR
1 25.06.2008 9 30 000.0
2 25.07.2008 9 14 754.10
3 25.08.2008 9 15 245.90
4 25.09.2008 9 15 245.90
5 25.10.2008 9 14 754.10
6 25.11.2008 9 15 245.90
7 25.12.2008 9 14 754.10
8 25.01.2009 9 15 278.24
9 25.02.2009 9 15 287.67
10 25.03.2009 9 13 808.22
11 25.04.2009 9 15 287.67
12 25.05.2009 9 14 794.52
13 25.06.2009 9 15 287.67
14 25.07.2009 9 14 794.52
15 25.08.2009 9 15 287.67
16 25.09.2009 9 15 287.67
17 25.10.2009 9 14 794.52
18 25.11.2009 9 15 287.67
19 25.12.2009 9 14 794.52
20 25.01.2010 9 15 287.67
21 25.02.2010 9 15 287.67
22 25.03.2010 9 13 808.22
23 25.04.2010 9 15 287.67
24 25.05.2010 9 14 794.52
25 25.06.2010 9 15 287.67
26 25.07.2010 9 14 794.52
27 25.08.2010 9 15 287.67
28 25.09.2010 9 15 287.67
29 25.10.2010 9 14 794.52
30 25.11.2010 9 15 287.67
31 25.12.2010 9 14 794.52
32 25.01.2011 9 15 287.67
33 25.02.2011 9 15 287.67
34 25.03.2011 9 13 808.22
35 25.04.2011 9 15 287.67
36 25.05.2011 9 14 794.52
37 25.06.2011 9 15 287.67
38 25.07.2011 9 14 794.52
39 25.08.2011 9 15 287.67
40 25.09.2011 9 15 287.67
41 25.10.2011 9 14 794.52
42 25.11.2011 9 15 287.67
43 25.12.2011 9 14 794.52
44 25.01.2012 9 15 255.33
45 25.02.2012 9 15 245.90
46 25.03.2012 9 14 262.30
47 25.04.2012 9 15 245.90
48 25.05.2012 9 14 754.10
49 25.06.2012 9 15 245.90
50 25.07.2012 9 14 754.10
51 25.08.2012 9 15 245.90
52 25.09.2012 9 15 245.90
53 25.10.2012 9 14 754.10
54 25.11.2012 9 15 245.90
55 25.12.2012 9 14 754.10
56 25.01.2013 9 15 278.24
57 25.02.2013 9 15 287.67
58 25.03.2013 9 13 808.22
59 25.04.2013 9 15 287.67
60 25.05.2013 9 14 794.52
61 25.06.2013 9 15 287.67
62 25.07.2013 9 14 794.52
63 25.08.2013 9 15 287.67
64 25.09.2013 9 15 287.67
65 25.10.2013 9 14 794.52
66 25.11.2013 9 15 287.67
67 25.12.2013 9 14 794.52
68 25.01.2014 9 15 287.67
69 25.02.2014 9 15 287.67
70 25.03.2014 9 13 808.22
71 25.04.2014 9 15 287.67
72 25.05.2014 9 14 794.52
73 25.06.2014 9 15 287.67
74 25.07.2014 9 14 794.52
75 25.08.2014 9 15 287.67
76 25.09.2014 9 15 287.67
77 25.10.2014 9 14 794.52
78 25.11.2014 9 15 287.67
79 25.12.2014 9 14 794.52
80 25.01.2015 9 15 287.67
81 25.02.2015 9 15 287.67
82 25.03.2015 9 13 808.22
83 25.04.2015 9 15 287.67
84 25.05.2015 9 14 794.52
85 25.06.2015 9 15 287.67
86 25.07.2015 9 14 794.52
87 25.08.2015 9 15 287.67
88 25.09.2015 9 15 287.67
89 25.10.2015 9 14 794.52
90 25.11.2015 9 15 287.67
91 25.12.2015 9 14 794.52
92 25.01.2016 9 15 255.33
93 25.02.2016 9 15 245.90
94 25.03.2016 9 14 262.30
95 25.04.2016 9 15 245.90
96 25.05.2016 9 14 754.10
97 25.06.2016 9 15 245.90
98 25.07.2016 9 14 754.10
99 25.08.2016 9 15 245.90
100 25.09.2016 9 15 245.90
101 25.10.2016 9 14 754.10
102 25.11.2016 9 15 245.90
103 25.12.2016 9 14 754.10
104 25.01.2017 9 15 278.24
105 25.02.2017 9 15 287.67
106 25.03.2017 9 13 808.22
107 25.04.2017 9 15 287.67
108 25.05.2017 9 14 794.52
109 25.06.2017 9 15 287.67
110 25.07.2017 9 14 794.52
111 25.08.2017 9 15 287.67
112 25.09.2017 9 15 287.67
113 25.10.2017 9 14 794.52
114 25.11.2017 9 15 287.67
115 25.12.2017 9 14 794.52
116 25.01.2018 9 15 287.67
117 25.02.2018 9 15 287.67
118 25.03.2018 9 13 808.22
119 25.04.2018 9 15 287.67
120 25.05.2018 9 14 794.52
121 25.06.2018 9 15 287.67
122 25.07.2018 9 14 794.52
123 25.08.2018 9 15 287.67
124 25.09.2018 9 15 287.67
125 25.10.2018 9 14 794.52
126 25.11.2018 9 15 287.67
127 25.12.2018 9 14 794.52
128 25.01.2019 9 15 287.67
129 25.02.2019 9 15 287.67
130 25.03.2019 9 13 808.22
131 25.04.2019 9 15 287.67
132 25.05.2019 9 14 794.52
133 25.06.2019 9 15 287.67
134 25.07.2019 9 14 794.52
135 25.08.2019 9 15 287.67
136 25.09.2019 9 15 287.67
137 25.10.2019 9 14 794.52
138 25.11.2019 9 15 287.67
139 25.12.2019 9 14 794.52
140 25.01.2020 9 15 255.33
141 25.02.2020 9 15 245.90
142 25.03.2020 9 14 262.30
143 25.04.2020 9 15 245.90
144 25.05.2020 9 14 754.10
145 25.06.2020 9 15 245.90
146 25.07.2020 9 14 754.10
147 25.08.2020 9 15 245.90
148 25.09.2020 9 15 245.90
149 25.10.2020 9 14 754.10
150 25.11.2020 9 15 245.90
151 25.12.2020 9 14 754.10
152 25.01.2021 9 15 278.24
153 25.02.2021 9 15 287.67
154 25.03.2021 9 13 808.22
155 25.04.2021 9 15 287.67
156 25.05.2021 9 14 794.52
157 25.06.2021 9 15 287.67
158 25.07.2021 9 14 794.52
159 25.08.2021 9 15 287.67
160 25.09.2021 9 15 287.67
161 25.10.2021 9 14 794.52
162 25.11.2021 9 15 287.67
163 25.12.2021 9 14 794.52
164 25.01.2022 9 15 287.67
165 25.02.2022 9 15 287.67
166 25.03.2022 9 13 808.22
167 25.04.2022 9 15 287.67
168 25.05.2022 9 14 794.52
169 25.06.2022 9 15 287.67
170 25.07.2022 9 14 794.52
171 25.08.2022 9 15 287.67
172 25.09.2022 9 15 287.67
173 25.10.2022 9 14 794.52
174 25.11.2022 9 15 287.67
175 25.12.2022 9 14 794.52
176 25.01.2023 9 15 287.67
177 25.02.2023 9 15 287.67
178 25.03.2023 9 13 808.22
179 25.04.2023 9 15 287.67
180 25.05.2023 9 14 794.52
181 25.06.2023 9 15 287.67
182 25.07.2023 9 14 794.52
183 25.08.2023 9 15 287.67
184 25.09.2023 9 15 287.67
185 25.10.2023 9 14 794.52
186 25.11.2023 9 15 287.67
187 25.12.2023 9 14 794.52
188 25.01.2024 9 15 255.33
189 25.02.2024 9 15 245.90
190 25.03.2024 9 14 262.30
191 25.04.2024 9 15 245.90
192 25.05.2024 9 14 754.10
193 25.06.2024 9 15 245.90
194 25.07.2024 9 14 754.10
195 25.08.2024 9 15 245.90
196 25.09.2024 9 15 245.90
197 25.10.2024 9 14 754.10
198 25.11.2024 9 15 245.90
199 25.12.2024 9 14 754.10
200 25.01.2025 9 15 278.24
201 25.02.2025 9 15 287.67
202 25.03.2025 9 13 808.22
203 25.04.2025 9 15 287.67
204 25.05.2025 9 14 794.52
205 25.06.2025 9 15 287.67
206 25.07.2025 9 14 794.52
207 25.08.2025 9 15 287.67
208 25.09.2025 9 15 287.67
209 25.10.2025 9 14 794.52
210 25.11.2025 9 15 287.67
211 25.12.2025 9 14 794.52
212 25.01.2026 9 15 287.67
213 25.02.2026 9 15 287.67
214 25.03.2026 9 13 808.22
215 25.04.2026 9 15 287.67
216 25.05.2026 9 14 794.52
217 25.06.2026 9 15 287.67
218 25.07.2026 9 14 794.52
219 25.08.2026 9 15 287.67
220 25.09.2026 9 15 287.67
221 25.10.2026 9 14 794.52
222 25.11.2026 9 15 287.67
223 25.12.2026 9 14 794.52
224 25.01.2027 9 15 287.67
225 25.02.2027 9 15 287.67
226 25.03.2027 9 13 808.22
227 25.04.2027 9 15 287.67
228 25.05.2027 9 14 794.52
229 25.06.2027 9 15 287.67
230 25.07.2027 9 14 794.52
231 25.08.2027 9 15 287.67
232 25.09.2027 9 15 287.67
233 25.10.2027 9 14 794.52
234 25.11.2027 9 15 287.67
235 25.12.2027 9 14 794.52
236 25.01.2028 9 15 255.33
237 25.02.2028 9 15 245.90
238 25.03.2028 9 14 262.30
239 25.04.2028 9 15 245.90
240 25.05.2028 9 14 754.10
241 25.06.2028 9 15 245.90
242 25.07.2028 9 14 754.10
243 25.08.2028 9 15 245.90
244 25.09.2028 9 15 245.90
245 25.10.2028 9 14 754.10
246 25.11.2028 9 15 245.90
247 25.12.2028 9 14 754.10
248 25.01.2029 9 15 278.24
249 25.02.2029 9 15 287.67
250 25.03.2029 9 13 808.22
251 25.04.2029 9 15 287.67
252 25.05.2029 9 14 794.52
253 25.06.2029 9 15 287.67
254 25.07.2029 9 14 794.52
255 25.08.2029 9 15 287.67
256 25.09.2029 9 15 287.67
257 25.10.2029 9 14 794.52
258 25.11.2029 9 15 287.67
259 25.12.2029 9 14 794.52
260 25.01.2030 9 15 287.67
261 25.02.2030 9 15 287.67
262 25.03.2030 9 13 808.22
263 25.04.2030 9 15 287.67
264 25.05.2030 9 14 794.52
265 25.06.2030 9 15 287.67
266 25.07.2030 9 14 794.52
267 25.08.2030 9 15 287.67
268 25.09.2030 9 15 287.67
269 25.10.2030 9 14 794.52
270 25.11.2030 9 15 287.67
271 25.12.2030 9 14 794.52
272 25.01.2031 9 15 287.67
273 25.02.2031 9 15 287.67
274 25.03.2031 9 13 808.22
275 25.04.2031 9 15 287.67
276 25.05.2031 9 14 794.52
277 25.06.2031 9 15 287.67
278 25.07.2031 9 14 794.52
279 25.08.2031 9 15 287.67
280 25.09.2031 9 15 287.67
281 25.10.2031 9 14 794.52
282 25.11.2031 9 15 287.67
283 25.12.2031 9 14 794.52
284 25.01.2032 9 15 255.33
285 25.02.2032 9 15 245.90
286 25.03.2032 9 14 262.30
287 25.04.2032 9 15 245.90
288 25.05.2032 9 14 754.10
289 25.06.2032 9 15 245.90
290 25.07.2032 9 14 754.10
291 25.08.2032 9 15 245.90
292 25.09.2032 9 15 245.90
293 25.10.2032 9 14 754.10
294 25.11.2032 9 15 245.90
295 25.12.2032 9 14 754.10
296 25.01.2033 9 15 278.24
297 25.02.2033 9 15 287.67
298 25.03.2033 9 13 808.22
299 25.04.2033 9 15 287.67
300 25.05.2033 9 14 794.52
301 25.06.2033 9 15 287.67
302 25.07.2033 9 14 794.52
303 25.08.2033 9 15 287.67
304 25.09.2033 9 15 287.67
305 25.10.2033 9 14 794.52
306 25.11.2033 9 15 287.67
307 25.12.2033 9 14 794.52
308 25.01.2034 9 15 287.67
309 25.02.2034 9 15 287.67
310 25.03.2034 9 13 808.22
311 25.04.2034 9 15 287.67
312 25.05.2034 9 14 794.52
313 25.06.2034 9 15 287.67
314 25.07.2034 9 14 794.52
315 25.08.2034 9 15 287.67
316 25.09.2034 9 15 287.67
317 25.10.2034 9 14 794.52
318 25.11.2034 9 15 287.67
319 25.12.2034 9 14 794.52
320 25.01.2035 9 15 287.67
321 25.02.2035 9 15 287.67
322 25.03.2035 9 13 808.22
323 25.04.2035 9 15 287.67
324 25.05.2035 9 14 794.52
325 25.06.2035 9 15 287.67
326 25.07.2035 9 14 794.52
327 25.08.2035 9 15 287.67
328 25.09.2035 9 15 287.67
329 25.10.2035 9 14 794.52
330 25.11.2035 9 15 287.67
331 25.12.2035 9 14 794.52
332 25.01.2036 9 15 255.33
333 25.02.2036 9 15 245.90
334 25.03.2036 9 14 262.30
335 25.04.2036 9 15 245.90
336 25.05.2036 9 14 754.10
337 25.06.2036 9 15 245.90
338 25.07.2036 9 14 754.10
339 25.08.2036 9 15 245.90
340 25.09.2036 9 15 245.90
341 25.10.2036 9 14 754.10
342 25.11.2036 9 15 245.90
343 25.12.2036 9 14 754.10
344 25.01.2037 9 15 278.24
345 25.02.2037 9 15 287.67
346 25.03.2037 9 13 808.22
347 25.04.2037 9 15 287.67
348 25.05.2037 9 14 794.52
349 25.06.2037 9 15 287.67
350 25.07.2037 9 14 794.52
351 25.08.2037 9 15 287.67
352 25.09.2037 9 15 287.67
353 25.10.2037 9 14 794.52
354 25.11.2037 9 15 287.67
355 25.12.2037 9 14 794.52
356 25.01.2038 9 15 287.67
357 25.02.2038 9 15 287.67
358 25.03.2038 9 13 808.22
359 25.04.2038 9 15 287.67
360 25.05.2038 9 14 794.52
361 25.06.2038 9 15 287.67
362 25.07.2038 9 14 794.52
363 25.08.2038 9 15 287.67
364 25.09.2038 9 15 287.67
365 25.10.2038 9 14 794.52
366 25.11.2038 9 15 287.67
367 25.12.2038 9 14 794.52
368 25.01.2039 9 15 287.67
369 25.02.2039 9 15 287.67
370 25.03.2039 9 13 808.22
371 25.04.2039 9 15 287.67
372 25.05.2039 9 14 794.52
373 25.06.2039 9 15 287.67
374 25.07.2039 9 14 794.52
375 25.08.2039 9 15 287.67
376 25.09.2039 9 15 287.67
377 25.10.2039 9 14 794.52
378 25.11.2039 9 15 287.67
379 25.12.2039 9 14 794.52
380 25.01.2040 9 15 255.33
381 25.02.2040 9 15 245.90
382 25.03.2040 9 14 262.30
383 25.04.2040 9 15 245.90
384 25.05.2040 9 14 754.10
385 25.06.2040 9 15 245.90
386 25.07.2040 9 14 754.10
387 25.08.2040 9 15 245.90
388 25.09.2040 9 15 245.90
389 25.10.2040 9 14 754.10 2 000 000.0




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