DeltaCredit Bank RMBS

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The proposed securitisation project would refinance residential mortgage loans originated by DeltaCredit Bank (“Originator”), thereby freeing up capital and providing new funding to make new mortgage loans in Russia. The EBRD intends to subscribe to mezzanine and junior bonds issued against a securitised portfolio of Originator’s mortgage loans. Securitisation is an important source of refinancing. The proposed project would the largest mortgage loan securitisations in countries of the Bank’s operation and would accelerate the development of the Russian capital markets by widening the investor base for this asset class. It would also make mortgage financing more readily available, thereby enabling Russian citizens to acquire homes more easily and contributing to increased stability and economic growth. ZAO DeltaCredit Bank, one of the leading mortgage banks in Russia, owned by Societe Generale, France. EBRD intends to invest in mezzanine and junior bonds denominated in US Dollars and secured by a securitised portfolio of mortgage loans originated by DeltaCredit Bank. The transaction structure envisages issuance of several classes of bonds with EBRD intending to subscribe to up to approximately USD 20 million of the mezzanine/ junior tranches of bonds alongside international investors. Approximately USD 215 million. The project has been classified as a financial intermediary (FI). The environmental risks associated with the operation and the potential portfolio are low. DCB is in compliance with EBRD’s Environmental Procedures for the Residential Mortgage Lending. None. Serge Ozerov, CFO Tel: +7 495 960 3161 Fax: +7 495 960 3162 E-mail: sozerov@deltacredit.ru