Box Madrid puts on the market a fund of titulización of mortgages of VPO with the guarantee of the ICO
12.01.2009
Box Madrid has put on the market, with the guarantee of the ICO, the fund “Madrid ICO-FTVPO”, a fund of titulización of mortgage loans for a value for 295 million euros, of which 80 % will be endorsed by the Institute of Official Credit, ICO and with the purpose that the funds which origin is the laying of this product will re-invest in new financing of protected housing
Box Madrid turns the instrument that the ICO has facilitated to the market to finance the portfolios of mortgage loans to individuals for the buy of Protected Housing. slightly much interante for the facility that the ICO provides.
The entire amount of the portfolio of the fund is 295,3 million euros, of which 80 % is a financing of Protected Housing, since the fund AAA will express a specific bonds Stretch to the value of 260,3 MM of euros that will be endorsed by the ICO, what will facilitate his laying foreseen on the market of institutional investors in the first trimester of 2008.
The funds proceeding from the laying will be re-invested by Box Madrid in the financing of new protected housing.
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