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IDBI
Bank securitises Rs 82 crores worth home loan receivables
Our
Banking Bureau
31 March 2004
 Mumbai:
IDBI Bank has successfully securitised receivables worth
Rs 82-crore of its home loan portfolio.
The
mortgage-backed securitisation programme is in 3 tranches
spread across seven investors, with Finolex Cables being
one of them.
Mr
V. Srinivasan, IDBI Bank's head for structured finance
said "This mortgage backed securitisation structuring
and sales capability will complement the bank's home loan
asset-booking infrastructure. A significant feature of
the securitisation is that it incorporates accentuated
prepayment protected and prepayment prone tranches."
 Mr
P.B. Parasnis, Director (Finance), Finolex Cables, said:
"The bank's securitisation issuance provided us an
excellent opportunity of investing in a very high quality
paper at an attractive spread."
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