ICICI Bank securitises Rs 364 crore home loans

 The securitised pool of retail home loans comprise 9,857 contracts. The pool is spread across nine states providing low obligor concentration and diversification benefits.

 The issue consisted of two senior tranches (strips) - PTC-A, and PTC-P. The size of Strip A and P are 226.5 crore and 137.9 crore, respectively.

 Strip P absorbs a substantial part of the prepayments thus insulating A strip investors from prepayments. Strip A has an average tenor of 42 months and a door-to-door maturity of 86 months, while Strip P has an initial average maturity of 83 months and a door-to-door maturity of 156 months, subject to prepayments.

 Rating agencies Icra and Fitch have rated the strips as LAAA (SO) and AAA