OREANDA-NEWS. On November 23, 2007 Daughter mortgage organization of joint stock company Bank TuranAlem BTA Ipoteka JSC (Almaty, in the title - BTA Ipoteka), bonds of which are traded in Kazakhstan stock exchange's (KASE) category "A" official list, had provided KASE with the press-release of next contention, reported the press-centre of KASE:

BTA Ipoteka had received from ABN AMRO Bank the credit line for securitization of mortgage assets for amount of $200 m. The given deal for securitization of Kazakhstan mortgage assets, enclosed by principle of "actual sale" and with borrowing of financing on foreign capital markets is the second. Previous deal for securitization of mortgage assets in March 2007 was also made together by BTA Ipoteka and ABN AMRO Bank.

Deal is foreseen the selling of habitation mortgage credits, given by BTA Ipoteka on the whole territory of Kazakhstan. At that financing is provided to the Company both in tenge and US dollars. It is the first international securitization deal with possibility of borrowing in tenge. Deal of such type gives BTA Ipoteka the large flexibility on the market of mortgage crediting.

BTA Ipoteka, starting its activity in year 2000, currently is one of the major players on the market of mortgage crediting of Kazakhstan. Company strives to development of its mortgage business in Kazakhstan and CIS countries. This securitization of mortgage assets, finished in current rough terms of world and Kazakhstan capital markets, confirms that BTA Ipoteka had selected the innovative way of financing borrowing, and is on the leading positions of Kazakhstan market of mortgage crediting.

Process of structuring of deal was very simplified due to experience, purchased by BTA Ipoteka during holding of first securitization of mortgage assets, and was finished during 2 months. Such record terms were achieved due to high professionalism of team of ABN AMRO Bank and great impact of other participants of deal.

By the words of Vice president of BTA Ipoteka Kayrat Altynbekov: "It is our second deal, the organizer of which is ABN AMRO Bank. If the first deal was structured during 8 months, than 2 months for organizing of second deal are showing us clearly, that all participants of deal in great extent had adapted to new Kazakhstan legislation. With next support from the side of ABN AMRO Bank, BTA Ipoteka will take the strong positions on the mortgage market in future, too. We are thanking the securitization team of ABN AMRO Bank for provision of bext financial decisions".

* Securitization by principle of "actual sale" means the selling of secured payments, coming in future, which are protected from bankruptcy or insolvency of originator.