CaixaBank - Covered Bond Investor presentation

Transcription

1 CaixaBank - Covered Bond Investor presentation Data as of 31 st December 2016

2 CaixaBankCovered BondsP rogram m e-highlights Highquality collateral& strongovercollateralization R atings: M oody s InvestorsS ervice Aa2 A+ L ow riskprofile:m ortgageportfolio prudently m anaged 76,2 of residential loans, out of which: 95,2 with LTV < 80 90,2 First home S olido C levels AA (high) Best treatment as regards LCR and risk weighting purposes Total OC: 217 -> and flexibility to optimize our collateral: 30,6 bn of retained Covered Bonds Legal OC: 136 Comfortably above the legally required ratio (125)..Despite following strict eligibility criteria R em ainingissuingcapacity:5,5 Bn (mortgage & public sector CB) A lw aysaim ingto thebest m arketstandards CoveredBondL abelcom pliantsince 1 st January 2013 T ransparency: com pletequarterly inform ation availablein our w ebpage: w w.caixabank.com /inversoresinstitucionales/inversoresrentafija_en.htm l 2

3 M ortgagecoveredbondp rogram m e CaixaBankCovered BondsP rogram m es -M ain figures MORTGAGE COVER POOL MORTGAGE COVERED BONDS Cover Pool Size (mill ) Outstanding nominal (mill ) Residential Assets ,2 OC (total) 217 Comercial Assets ,8 OC (legal - eligible portfolio) 1 Elegible Pool (mill ) Issuing Capacity (mill ) Number of loans Average Maturity (years) 5,8 Average loan Balance ( ) WA Seasoning (years) 8,3 yrs RATINGS WA Remaining Term (years) 17,5 yrs Moody's Aa2 WA LTV 51 DBRS AA (high) WA LTV Elegible Pool 43 S&P A+ S panishp ublics ectorcoveredbondp rogram m e PUBLIC SECTOR COVER POOL PUBLIC SECTOR COVERED BONDS Cover Pool Size (mill ) Outstanding nominal (mill ) Number of loans OC 173 Average loan Balance ( ) Issuing Capacity WA Seasoning (years) 3,4 yrs Average Maturity (years) 2,7 WA Remaining Term (years) 5,6 yrs RATINGS Moody's Aa2 Issuingcapacity & Collateraltype R em ainingissuingcapacity M n Collateralby T ype 3

4 CaixaBankM ortgagecovered BondP rogram m e R em ainingissuingcapacity Data in million Mortgages Total Collateral for Covered Bonds Eligible Portfolio Mortgages CB Used Collateral Covered Bond Issued Amount Over Collaterization 217 Available Collateral REMAINING ISSUING CAPACITY (*) (*) Issuing Capacity= 80 of Collateral Available for C. Hipotecarias and 70 for C. Territoriales M aturity P rofile T otalcoveredbonds-> M n P ublic -> M n R etained -> M n 4

5 CaixaBankM ortgagecovered BondP rogram m e O C Evolution A ctiveandprudentcollateralm anagem ent,focuson addingvalueto investors T O T A L O C: 217 O C com fortably abovethelegally requiredratio L EGA L O C: 136 5

6 CaixaBankM ortgagecovered BondP rogram m e R ES IDEN T IA L A S S ET S CoverP ooldescription M ain figures Total Mortgage Loans (ex securitization) ( k) Number of loans Average Loan balance ( ) WA LTV () 50,6 First Rank 93,7 Floating Rate loan Interest Rate type: 95,4 Number of Borrowers WA Interest Rate (Floating Rate loans) 1,4 Number of properties WA Interest Rate (Fixed Rate loans) 2,6 WA Seasoning in months 105,1 8,8 yrs WA Remaining term in months 228,3 19 yrs P ortfolio Breakdow n Unindexed LTV Ranges Distributions Total Loan Balance (ex sec) k ,2 > ,4 > ,0 > ,4 > ,3 > ,8 > ,2 > ,7 > ,4 > ,2 > , Seasoning (months) k 95, 2 ofthepoolw ith L T V <80 S easoning < ,7 12-< ,2 24-< ,8 36-< , ,

7 CaixaBankM ortgagecovered BondP rogram m e R ES IDEN T IA L A S S ET S Property type First Home Second Home Not Owner occupied Other k ,2 7,8 1,2 0, k Adquisition Re-mortgage Loan Purpose Equity release Rehabilitation New construction Other Firsthom eloansrepresent 90, 2 oftheresidentialpool k Catalonia Andalusia Madrid Valencia Canary Islands Balearic Islands Castile León Castile La Mancha CATALUÑA Navarra Basque Country Murcia Galicia Aragon Regional Distribution Regions with weight >5.0 MADRID VALENCIA Cantabria Extremadura Asturias Others/ No info La Rioja Ceuta Melilla > 20 CANARIAS 7 ANDALUCIA 18 Between Between 5-10 Between 3-5 Between 1-3 < 1 7

8 CaixaBankM ortgagecovered BondP rogram m e CO M M ER CIA L A S S ET S CoverP ooldescription M ain figures Total Mortgage Loans (ex securitization) ( k) WA LTV () 50,9 Number of loans Floating Rate loan Interest Rate type: 94,3 Average Loan balance ( ) WA Interest Rate (Floating Rate loans) 2,1 WA Interest Rate (Fixed Rate loans) 5,1 Number of Borrowers Number of properties WA Seasoning in months 82,8 6,9 yrs WA Remaining term in months 150,5 12,5 yrs P ortfolio Breakdow n Unindexed LTV Ranges Distribution Total Loan Balance (ex sec) k ,2 > ,9 > ,9 > ,6 > ,8 > ,3 > ,2 > ,6 > ,1 > ,6 > , Property Type k Offices ,6 Commercial stores ,1 Industrial ,6 Hotel ,5 Flats & Houses ,3 Land ,7 Mixed Use ,1 Others ,0 8

9 CaixaBankM ortgagecovered BondP rogram m e CO M M ER CIA L A S S ET S P ortfolio Breakdow n Loan Maturity (yrs) k ,9 > ,8 > ,7 > ,9 > , k Catalonia ,9 Madrid ,7 Andalusia ,0 Valencia ,1 Canary Islands ,4 Balearic Islands Regional Distribution ,3 Castile León ,8 Navarra ,6 Castile La Mancha ,4 Galicia ,9 Basque Country ,8 Murcia ,7 MADRID Aragon ,6 19 Others/ No info ,4 VALENCIA Asturias ,9 9 Extremadura ,7 Cantabria ,5 La Rioja ,3 Ceuta ,0 Melilla , CATALUÑA 24 > 20 CANARIAS 9 ANDALUCIA 17 Between Between 5-10 Between 3-5 Between 1-3 < 1 9

10 CaixaBank P ublics ectorcovered BondP rogram m e R em ainingissuingcapacity Data in million Public Sector Total Collateral for Covered Bonds Eligible Portfolio Public Sector CB Used Collateral Covered Bond Issued Amount Over Collaterization Available Collateral REMAINING ISSUING CAPACITY (*) (*) Issuing Capacity= 80 of Collateral Available for C. Hipotecarias and 70 for C. Territoriales (**) Due to the early amortisation of 3 Bn of retained cedulas on April 15th, OC ratio is currently higher M aturity P rofile T otalcoveredbonds-> M n P ublic -> 88 M n R etained -> M n 10

11 CaixaBank P ublics ectorcovered BondP rogram m e CoverP ooldescription M ain figures Total Loans (ex securitization) ( k) Number of loans Average Loan balance ( ) Number of Borrowers Floating Rate loan Interest Rate type: 87,4 WA Interest Rate (Floating Rate loans) 0,92 WA Interest Rate (Fixed Rate loans) 1, Average exposure to borrowers ( ) WA Remaining term in months WA Seasoning in months 67,0 5,6 yrs 40 3,4 yrs P ortfolio Breakdow n L oans M aturity Loan Maturity < <24 24-<36 36-<60 60 k Loans in Arrears <2m 2m - <6m 6m - <12m 12m 0,31 1,26 0,14 0,83 11

12 A ppendix 1:CaixaBank Covered BondIssuances Spanish Mortgages - Public Deals Covered Bonds ISIN Currency Issue Date ES /06/2006 ES /11/2011 ES ES ES Outstanding ( ) Maturity Date Coupon Investor Type /01/2017 4, /01/2017 4,25 16/02/ /02/2017 4,00 30/03/ /03/2017 Eur 3m /07/ /03/2017 Eur 3m ES /01/ /03/2017 Eur 3m Retail ES /07/ /07/2017 Eur 3m+0.50 ES /09/ /09/2017 Eur 3m + 1,50 ES /05/ /09/2017 Eur 3m+0.1 Retail ES /01/ /01/2018 Eur 3m ES /03/ /03/2018 3,00 ES ES /07/ /10/ /07/ /10/2018 Eur 3m ,75 ES /05/ /05/2019 Eur 3m ES /06/ /06/2019 4,625 ES /11/ /11/2020 0,625 ES /01/ /01/2021 3,625 ES /05/ /05/2021 Eur 3m+1 ES /06/ /01/2022 4,500 ES /02/ /02/2023 1,000 ES /03/ /03/2024 2,625 ES /02/ /02/2025 3,880 ES /03/ /03/2025 0,625 ES /06/ /06/2038 5,432 12

13 A ppendix 1:CaixaBankCovered BondIssuances Spanish Mortgages - Retained Deals Covered Bonds ISIN Currency Issue Date ES /04/2009 ES /07/2012 ES ES Outstanding ( ) Maturity Date Coupon Investor Type 27/06/2019 Eur 12m /07/2020 Eur 6m /06/ /06/2022 Eur 6m /04/ /09/2022 Eur 12m+0.25 ES ES /12/ /06/ /12/ /06/2023 Eur 6m+0.55 Eur 6m ES /06/ /06/2024 Eur 6m ES ES /06/ /06/ /06/ /06/2026 Eur 6m Eur 6m ES /07/ /07/2027 Eur 6m+4 ES /07/ /07/2027 Eur 6m+4.25 ES /08/ /08/2027 Eur 3m+3.85 ES /07/ /07/2028 Eur 6m+4.25 ES /07/ /07/2024 Eur 12m+0.82 Maturity Date Coupon Investor Type 01/10/2048 5,32 Maturity Date Coupon Investor Type 02/02/2037 Libor 3m Registered - Covered Bonds ISIN Currency Issue Date 01/10/2008 Outstanding ( ) Spanish Mortgages - Covered Bonds (non ) ISIN XS Currency Issue Date USD 01/11/2006 Outstanding

14 A ppendix 1:CaixaBankCovered BondIssuances Spanish Public Sector - Covered Bonds ISIN Currency Issue Date ES /02/2012 ES /06/2013 ES /05/2012 ES /05/2012 ES ES ES Outstanding ( ) Maturity Date Coupon Investor Type /02/2017 6, /06/2018 3, /05/2018 4, /05/2019 5,20 19/06/ /06/2019 Eur 6m /03/ /03/2020 Eur 6m /06/ /06/2021 Eur 6m

15 A ppendix 1:CaixaBank Covered BondIssuances Spanish Multi-Issuers - Public Covered Bonds Código ISIN CaixaBank Contribution ( ) Total Issue Outstanding ( ) Divisa Fecha emisión ES /03/ ES /05/ ES /06/ ES /02/2006 ES ES Maturity Date Coupon Investor Type 17/03/2017 4,00 24/05/2017 Eur 3m /06/2017 3, /02/2018 Eur 3m /06/ /06/2018 4,25 23/10/ /10/2018 4,00 ES /12/ /12/2018 4,76 ES /11/ /11/2019 4,26 ES /03/ /03/2020 4,00 ES /06/ /06/2020 3,51 ES /03/ /03/2021 4,00 ES /03/ /03/2021 4,01 ES /05/ /04/2021 4,13 ES /02/ /02/2022 4,51 ES /12/ /12/2022 3,75 ES /10/ /10/2023 4,25 ES /06/ /06/2025 3,75 ES /03/ /03/2027 4,25 ES /05/ /05/2027 4,76 ES /04/ /04/2031 4,25 Maturity Date Coupon Investor Type Spanish Multi-Issuers - Retained Covered Bonds Código ISIN CaixaBank Contribution ( ) Total Issue Outstanding ( ) Divisa Fecha emisión ES /10/ /10/2017 Eur 3m ES /01/ /10/2017 Eur 3m ES /04/ /10/2017 Eur 3m ES /04/ /10/2017 Eur 3m

16 Disclaim er The purpose of this presentation is purely informative. In particular, regarding the data provided by third parties, neither CaixaBank, S.A. ( CaixaBank ) as a legal entity, nor any of its administrators, directors or employees, is obliged, either explicitly or implicitly, to vouch that these contents are exact, accurate, comprehensive or complete, nor to keep them updated, nor to correct them in the case that any deficiency, error or omission were to be detected. Moreover, in reproducing these contents in any medium, CaixaBank may introduce any changes it deems suitable, may omit partially or completely any of the elements of this document, and in the case of any deviation between such a version and this one, assumes no liability for any discrepancy. This document has at no time been submitted to the Comisión Nacional del Mercado de Valores (CNMV the Spanish Stock Markets regulatory body) for approval or scrutiny. In all cases its contents are regulated by the Spanish law applicable at time of writing, and it is not addressed to any person or legal entity located in any other jurisdiction. For this reason it may not necessarily comply with the prevailing norms or legal requisites as required in other jurisdictions. This presentation on no account should be construed as a service of financial analysis or advice, nor does it aim to offer any kind of financial product or service. In particular, it is expressly remarked here that no information herein contained should be taken as a guarantee of future performance or results. Without prejudice to legal requirements, or to any limitations imposed by CaixaBank that may be applicable, permission is hereby expressly refused for any type of use or exploitation of the contents of this presentation, and for any use of the signs, trademarks and logotypes which it contains. This prohibition extends to any kind of reproduction, distribution, transmission to third parties, public communication or conversion into any other medium, for commercial purposes, without the previous express permission of CaixaBank and/or other respective proprietary title holders. Any failure to observe this restriction may constitute a legal infraction which may be sanctioned by the prevailing laws in such cases 16