PrivatBank repays securitized class B and C bonds worth $45.9 mln

The Irish Stock Exchange (ISE) on April 15, 2016 removed class B and C bonds due December 2031 of Ukraine Mortgage Loan Finance No.1 Plc. from the ISE register and halted trading with the bonds.

The exchange has not disclosed the reason of the halt.

The press service of PrivatBank told Interfax-Ukraine that the turnover of the bonds was halted, as the securities were fully repaid.

"As of April 15, 2016, the securities issued by Ukraine Mortgage Loan Finance No.1 Plc. Were paid in the full amount," the press service said.

As reported, PrivatBank (Dnipro) early 2007 issued class A mortgage bonds worth $134.3 million, class B bonds worth $36.9 million and class C bonds worth $9 million via a special purpose vehicle (SPV) Ukraine Mortgage Loan Finance No.1 Plc. All bonds are due in December 2031. The securities were issued as part of deals to securitize the portfolio of U.S. dollar pegged mortgage credits.

All bonds, apart from class C bonds, were issued with floating interest.

In spring 2008, the bank issued class A bonds worth $85.8 million, class B bonds worth $18.7 million and class C bonds worth $5.5 million (all due in 2018) as part of the deals to securitize car credits.

PrivatBank was founded in 1992. Its largest stockholders as of January 1, 2016, were Hennadiy Boholiubov, who owns 33.2525% directly and 8.3346% indirectly, and Ihor Kolomoisky with 41.6572% directly and 8.3346% indirectly.

The bank ranked first among 109 operating banks as of April 1, 2016, with overall assets worth UAH 276.55 billion, according to the National Bank of Ukraine.