KIEV, Ukraine, March 26, 2007 (PRIME NEWSWIRE) -- In March 2007, ordinary registered fixed rate mortgage bonds series "A" of Ukrgasbank JSB, OJSC were fully placed. The bonds are registered with the State Committee for Securities and Stock Market in a separate register of mortgage bonds issues under No. 1/4/07 on January 23, 2007. The Bank has submitted the respective report to the State Committee for Securities and Stock Market.
The number of the placed mortgage bonds amounts to 50,000, while the sum of the placed mortgage bonds is equal to UAH 50,355,500.00 (UAH 1,007.11 per bond). The investors' yield shall be the unified yield from placement of mortgage bonds series "A" of Ukrgasbank JSB, OJSC for, as established on February 28, 2007 at the annual rate of 10.2%.
Mortgage assets (property right under loan agreements secured by mortgage, made between Ukrgasbank JSB, OJSC and a borrower), as of March 1, 2007 amounted to UAH 58,011,745.43. The average term of mortgage bonds related to the mortgage security as of the same date is 109.28 months.
Main features of mortgage bonds issue:
Issue volume at par value: UAH 50 million Security for bonds: mortgage security as of December 1, 2006 is UAH 56.64 million Kind of the mortgage bonds: ordinary Type of the mortgage bonds: registered interest-bearing bonds Form of the mortgage bonds: uncertificated Par value of one mortgage bond: UAH 1,000. Method of placement: public Quantity of coupons: 12 Coupon period: 91 days Rate: 10.50% annually Redemption date: February 25, 2010 Rating according to the national rating scale: uaA
The Joint Stock Commercial Bank "HVB Bank Ukraine," a member of UniCredit Group, is appointed to be a mortgage security manager. Ukrgasbank JSB, OJSC is the first bank in Ukraine to issue mortgage bonds.
These pilot mortgage bonds were issued by Ukrgasbank JSB, OJSC within the USA(2)D project called "Crediting Assistance Initiative."
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