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Irish Stock Exchange halts turnover of PrivatBank securitized bonds

Irish Stock Exchange halts turnover of PrivatBank securitized bonds The Irish Stock Exchange (ISE) on April 15, 2016, removed class B and C bonds due December 2031 of Ukraine Mortgage Loan Finance No.1 Plc. from the ISE register and halted trading with the bonds.

The exchange has not disclosed the reason for the halt.

As reported, PrivatBank (Dnipro) early 2007 issued class A mortgage bonds worth $134.3 million, class B bonds worth $36.9 million and class C bonds worth $9 million via a special purpose vehicle (SPV) Ukraine Mortgage Loan Finance No.1 Plc. All bonds are due in December 2031. The securities were issued as part of deals to securitize the portfolio of U.S. dollar pegged mortgage credits.

All bonds, apart from class C bonds, were issued with floating interest.
In spring 2008, the bank issued class A bonds worth $85.8 million, class B bonds worth $18.7 million and class C bonds worth $5.5 million (all due in 2018) as part of the deals to securitize car credits.

PrivatBank was founded in 1992. Its largest stockholders as of January 1, 2016, were Hennadiy Boholiubov, who owns 33.2525% directly and 8.3346% indirectly, and Ihor Kolomoisky with 41.6572% directly and 8.3346% indirectly.

The bank ranked first among 109 operating banks as of April 1, 2016, with overall assets worth UAH 276.55 billion, according to the National Bank of Ukraine.
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