JSC The Agency for Housing Mortgage Lending and VTB Group completed the securitization of Bank VTB 24's mortgage portfolio through the issuance of mortgage-backed bonds worth 48.2 billion Russian rubles.

The one-tranche mortgage-backed bonds guaranteed by the AHML are intended for sale to a wide range of investors, the agency said Dec. 7. The par value of one bond is 1,000 rubles, and the coupon rate is fixed at 11.50%.

Bank VTB 24 is a unit of JSC VTB Bank.

As of Dec. 7, US$1 was equivalent to 59.16 Russian rubles.