Capital Markets: Issuer Strategy - MDM Securitisation Marks First Of Many - MDM's Auto Loan Securitisation Issue, The Largest Ever Out Of Russia, Was Comfortably Oversubscribed And More Issues Are In The Offing, Reinforcing The Trend In The CIS Region. Ed.(Commonwealth of Independent States)(KMB-Bank)(Merrill Lynch and Company Inc)(Dresdner Bank AG)

Banker, The, December, 2006 by Russell-Walling, Edward

Byline: EDWARD RUSSELL-WALLING

This has been an exceptional year for emerging market securitisations, one in which Commonwealth of Independent States (CIS) issuers have begun to dominate a sector previously led by Turkey. MDM Bank's recent $430m auto loan securitisation issue, the largest from Russia so far, has reinforced that trend.

Privately-owned MDM is now one of the 10 largest Russian banks and has been rated by Standard & Poor's as the country's most transparent. Michel Perhirin, a Societe Generale veteran who started ZAO Raiffeisen Austria in Moscow, became CEO of MDM earlier this year.

Although MDM began as a corporate institution, it has recently been focusing heavily on the retail market. As the Russian economy improves, fuelled by...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.