January 11, 2019 |
IDB Invest said it has provided a partial credit guarantee for a mortgage-backed security by the Trinidad and Tobago Mortgage Finance Company (TTMF).
The multilateral lender covered 30%, or TTD120m ($17.7m), of TTD400m in five-year mortgage bonds from TTMF.
TTMF requested a guarantee for up to TTD203m in March last year to support a TTD670m bond issue. The mortgage lender eventually sold TTD400m in notes on December 28, according to IDB Invest.
TTMF does not take deposits, so it relies on bond
Multilateral lender foots a $18m guarantee for TTMF's $59m mortgage-backed security