The European Bank for Reconstruction and Development (EBRD)said today in a press release that it has invested $50 million in the first securitization made by a Russian private bank since the beginning of the financial crisis.

The deal issued by ZAO Raiffeisenbank, the Russian subsidiary of Raiffeisen Bank International (RBI) securitizes seven-year bonds that are indirectly secured by pledges of ZAO Raiffeisenbank’s current and future U.S. dollar and euro Diversified Payment Rights (DPRs).

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