Russian existing assets are starting to fulfill their promise, with the country's first public consumer-loan deal already wending its way through Europe on a road show. Originated by Russian Standard Bank, the transaction is sized at 300 million and consists of three tranches. HVB, which pioneered the asset class in the non-public realm, is sole arranger and also joint lead along with Barclays Capital and JPMorgan Securities, according to a source on the deal.

Moody's Investors Service and Standard & Poor's rated the 228 million ($271 million) senior A-1 tranche Baa2' and BBB'; the 39.3 million A-2 tranche Ba2' and BB-'; and the 32.4 million B tranche also Ba2' and BB-', respectively. All the pieces have a final maturity of six years and a scheduled maturity of three years.

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