More details have surfaced on a first-time public securitization from the Ukraine, an RMBS originated by PrivatBank (ASR, 1/29/07) and arranged by UBS. Expected to price towards the end of this week, $134 million in 3.4-year average, class-A notes is being talked at 200 basis points over one-month Libor. Meanwhile, a $37 million B tranche with a 7.2-year average life is being talked in the range of 375 to 400 basis points. Fitch Ratings and Moody's Investors Service have assigned respective ratings of BBB-'/'Baa3' to the A slice and B+'/'Ba3' to the B slice.
A first for Steadfast