Securitization of VTB's consumer loan portfolio
2021 to present
Securitization
Key aspects
LECAP acted as legal counsel to VTB on the securitization transaction involving a consumer loan portfolio in the amount of RUB 45 billion. The amount of the secured bond issuance of SFO VTB RKS-1 was RUB 35 billion. For VTB, this is the first consumer loan securitization transaction.
The first securitization of a consumer loan portfolio structured entirely under Russian law
The transaction received the Cbonds Awards in the category “Most “retail” primary placement transaction” 2021
Project features that required
an individual approach and unconventional solutions
an individual approach and unconventional solutions
Identification and documentation of the qualification requirements for consumer loans included in the collateral, at the level of public disclosure in the resolution on issuance.
Revolving structure and repurchase for consumer loans that do not meet the criteria specified in the resolution on issuance.
A mechanism for notifying the end borrowers of the assignment, minimizing the risks of challenging the assignment.
Key product modules used in implementing the project
All products