Spire of Mortgage Hope. Kyiv Presents First Issue of Mortgage ...
Ukrgasbank came out with the local inaugural issue of mortgage notes within the project of United States Agency for International Development (USAID) "Initiative of Crediting Assistance (ICA) in association with Pragma Corporation.
After nearly a quarter of millennium since mortgage securities were firstly issued in the world history (that was in Lower Silesia (Prussia) in 1796), one of the key financial instruments finally came up in our country.
During the road-show on February 27, its initiators presented the three-year mortgage notes they issued in the amount of UAH 50 billion with the coupon rate of 10.5%. HVB Ukraine and Grant Thornton Ukraine were selected as Mortgage Pool Administrator and Auditor correspondingly.
Ukrgasbank explains that the small issue volume (even for the domestic financial markets) is due to the necessity to test and master the instrument which is absolutely new for the national market.
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