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Kazakhstan will host the debut transaction of mortgage securitization

Mortgage Organization Kazakhstan Mortgage Company JSC (hereinafter - KMC), a subsidiary of Baiterek NMH, together with Tengri Partners Investment Banking JSC will hold a presentation of the upcoming first local transaction of tranche securitization of the mortgage portfolio in the history of Kazakhstan (Residential Mortgage-backed Securities). 

Multi-tranche securitization is an effective tool for the development of the mortgage market, which reduces the cost of mortgages, increases the stability of the banking sector and attracts long-term funds from institutional investors to real sectors of the national economy. The RMBS market in the USA is about USD 11 trillion, and in Russia it has dozens of issues with a volume of about USD 10 billion. In Kazakhstan, this is the first transaction that will be fully implemented within the framework of Kazakhstani legislation and local regulatory infrastructure.

The transaction involves three issues of bonds of a special financial company, subordinated to each other and secured by allocated assets in the form of a mortgage portfolio. The quality of the allocated portfolio and the subordination structure suggest high credit ratings of the two senior class bonds. In both cases, the collateral is much higher than the face value of the bonds, which eliminates the credit risk for investors.

Speakers, including Adil Mukhamejanov, Chairman of the Management Board of KMC, and Anuar Ushbayev, Chairman of the Management Board of Tengri Partners Investment Banking, will talk in detail about the preparation and structure of the transaction, which uses the best international practices and will mark the beginning of the development of the securitized mortgage bond market in Republic of Kazakhstan.

Speakers:

  • Adil Mukhamejanov, Chairman of the Management Board, KMC;
  • Anuar Ushbayev - Chairman of the Management Board, Tengri Partners Investment Banking;
  • Asel Dykanbayeva – Deputy Chairman of the Management Board, KMC;
  • Mazhit Zhussupov - Deputy Chairman of the Management Board, KMC;
  • Ilias Tsakalidis - Deputy Chairman of the Management Board, Tengri Partners Investment Banking.

The presentation will be held at 10:30, September 21, 2020 online via Zoom platform with the support of the Kazakhstan Stock Exchange KASE.

 

Reference:

Securitization - financing for the assignment of a monetary claim by issuing bonds secured by allocated assets (the law of the Republic of Kazakhstan "On Project Financing and Securitization").

Mortgage Organization Kazakhstan Mortgage Company JSC - a subsidiary of Baiterek National Managing Holding JSC, established for the purpose of developing mortgage lending and long-term financing of housing construction in the Republic of Kazakhstan.

Tengri Partners Investment Banking - a leading independent investment bank and Investment Manager in Central Asia, with its head office in Almaty (Kazakhstan), which is a two-way link between investment opportunities and invested capital for foreign and regional players.

 

 

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