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EEMEA market round up: Kazakh RMBS deal sets benchmark

BTA Ipoteka became the first Kazakh bank to issue a securitization of residential mortgage loans in the international public markets.

The deal raised $141.4 million. The structure incorporates a political risk interest payment contract, which allowed Fitch to rate the class A notes one notch above the country ceiling. Additionally, the structure includes a balance guaranteed interest rate swap.


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