On 6 August 2020, MOEX added ООO IA Absolut 5 bonds worth more than 4 billion roubles to its list of fixed income securities, with BCS Global Markets acting as the lead manager.
The initial coupon rate of 6,25%-6.35% per annum was set as part of bookbuilding at 6.35% per annum, putting the yield to maturity at 6.50% per annum. The issue has been secured with receivables related to the pool of mortgages (around 9 billion roubles) as well as the special purpose reserve fund (3.6% of the outstanding nominal value).
Russia’s rating agency АКRА assigned a ‘AAA(ru.sf)’ credit rating to the issue.
ООO IA Absolut 5 is a bankruptcy-remote SPV that acts as a mortgage broker.
PAO AKB Absolut Bank is a major bank with a nationwide network of branches and focus on high-tech projects in priority sectors of Russia’s most economically developed regions. Building on its legacy of 25 years, it now specialises on segments with a high level of expertise and unique IT solutions: digital products in mortgage, car loans and SMEs, full range of products for OAO Russian Railways and its subsidiaries, as well as diverse solutions in private banking.
AKB Absolut Bank has a ‘B2’ rating from Moody’s as well as a ‘ruBBB-‘ rating from Expert RA.
It has recently come to our attention that some individuals in Estonia with whom we have no business relationship have received phone calls from an individual purporting to be a BCS GM employee and soliciting BCS GM investment services and investments. Please note that BCS GM does not maintain an office in Estonia. We also take no action to promote our services in Estonia through phone calls or otherwise. If you ever have any questions of whether a person contacting you is actually an employee of BCS GM, please do not hesitate to contact us at +44 20 7065 2161 or email at firstname.lastname@example.org
We also strongly recommend that you report any such cases to the national police.