Russian mortgage agency to float $407m worth of bonds

19-Jul-2012

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(RBC) Mortgage agent AHML 2012-1, a subsidiary of state-owned Agency for Housing Mortgage Lending (AHML), intends to offer three issues of mortgage-backed bonds totaling RUB 13.18bn (approx. USD 407m) on July 27, the company said in a statement.

The A1 and A2 class issues are worth RUB 5.93bn (approx. USD 183m) and the B class issue is worth 1.32bn (approx. USD 41m). The bonds will mature on January 22, 2044.

AHML was established by the government in September 1997 to refinance mortgage loans to banks participating in the federal mortgage lending program and providing mortgage loans under AHML’s standards.

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