Mortgage backed securities of zł. 200 million

Rheinhyp-BRE Bank Hipoteczny will begin subscription for the first mortgage backed securities (MBS) issue on Monday. According to the bank's chairman Piotr Cyburt, zł. 200 million MBS certificates are designed primarily for private pension funds, insurance companies and national mutual funds, but it is possible that individual investors will also have a chance to purchase part of the issue. "After meeting with investors, I am positive about the market interest," said Cyburt. This year, the bank is planning to sell mortgage-backed securities worth zł. 400 million. The new instrument will begin trading on CeTO over-the-counter exchange in late April. Rheinhyp-BRE, a joint venture of BRE Bank and Eurohypo AG has already sold MBS' worth zł. 238.1 million over the last three years in private placements. (Parkiet, p. 6) J.K.