PROVIDE-VR 2002-1
Our "PROVIDE-VR 2002-1" transaction is an RBMS multi-seller-transaction that was launched in 2002 together with five cooperative banks, the KfW and DZ BANK.
We packaged the cooperative banks' portfolio risks within the scope of this transaction and added own exposures to the portfolio. The overall portfolio risk (EUR 623 million) was placed on the capital market by DG HYP through KfW. The risk was transferred by means of a guarantee extended by KfW in the form of a credit default swap (CDS). The issue was placed on the capital market partially through a super senior swap and partially through an SPV and the issue of credit linked notes (CLN).
| PROVIDE-VR 2002-1 | EUR mn | % | number of loans |
|---|---|---|---|
| Total | 623,27 | 100,00 | 20.876 |
| DG HYP | 593,39 | 95,21 | 20.534 |
| Raiffeisenbank Oldenburg eG | 9,33 | 1,50 | 122 |
| Volksbank Lingen eG | 6,74 | 1,08 | 120 |
| Volksbank Mittelhessen eG | 5,74 | 0,92 | 57 |
| Raiffeisenbank Oberschleißheim eG | 4,01 | 0,64 | 25 |
| Vereinigte Volksbank Griesheim- Weiterstadt eG | 4,06 | 0,65 | 18 |
Contact
Christian Voss
Portfolio Management & Structured Credit
Phone: +49 (0)40/33 34-36 67
E-Mail: christian.voss(at)dghyp.de
Link
Further information on our securitised transactions can be found here: