The Bank of New York Selected by Gazprombank to Provide Corporate Trust Services for Historic Residential Mortgage Backed Securitization Transaction in Russia
NEW YORK, February 12, 2007 -- The Bank of New York, a global leader in securities servicing, has been selected by Gazprombank to provide a full range of global corporate trust services for its landmark Russian residential mortgaged backed securitization (RMBS). The Bank, through its London office, will act as trustee, notes and paying agent, listing agent, account bank, and common depository.
Gazprombank Mortgage Backed Securities 2006-1, total issuance RUB 5,000,000,000, is the first ruble-denominated RMBS transaction to come to market.
Sovfintrade, a subsidiary of Gazprombank, the sellers of the Russian residential mortgages, worked with Barclays Capital as arranger and lead manager of the transaction. Dali Capital PLC, of the Republic of Ireland, was the issuer of the notes.
Michael Strange, director of Barclays Capital, said, “We are excited to have made history with this transaction. The Bank of New York is one of our premier partners in the Russian market because of both its local market expertise and global capabilities.”
Samir Pandiri, managing director of global trust services at The Bank of New York, said, “Our selection was based on our unrivaled ability to deliver a diverse range of trust and agency services for this transaction, which is a significant milestone for Russia, the emerging debt capital markets, and The Bank of New York.”
The Bank of New York is the world’s leading provider of corporate trust and agency services, serving $8 trillion in outstanding debt from offices in 51 cities and 18 countries around the world. The Bank and its subsidiaries and affiliates provide trust services for all major debt categories, including corporate and municipal debt, mortgage-backed and asset-backed securities, collateralized debt obligations, derivative securities services and international debt offerings.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, asset management, and private banking. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
This announcement is not an offer to sell or a solicitation of an offer to buy any securities. The offering is made only by means of the prospectus.
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