NEW YORK, June 18, 2021 (Newswire.com) - IMS Ecuador Mortgage Loan 2021-1 Trust, a District of Columbia statutory Trust (the "Trust") announces the intention to offer and sell, subject to market and other conditions, $132,162,000 of certificates (the "Certificates"). The principal assets of the Trust will consist of two of four senior classes of Ecuadorian mortgage backed securities (the "Ecuadorian Notes") totaling $132,162,000, issued by an Ecuadorian securitization mortgage trust. The Certificates will have the benefit of a guaranty of timely interest and ultimate principal by the U.S. International Development Finance Corporation, an agency of the U.S. Federal Government ("DFC"). The Ecuadorian Note issuance consists of four senior classes and one subordinated class of notes secured by a total of $176,216,058 of Ecuadorian mortgage loans and cash. International Mortgage Securitization ("IMS"), a Virginia LLC is the U.S Sponsor and Grantor to the Trust. Banco Pichincha C.A. is the Originator, Seller and Servicer of the mortgage loans to the Ecuadorian Note issuer. The Trust is anticipated to have an AAAsf rating from Fitch, based on the DFC guaranty.
The Certificates will be offered exclusively to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act") in the United States and outside the United States pursuant to Regulation S under the Act.
The Certificates have not been and will not be registered under the Act or applicable state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state laws.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is unlawful. Any offers of the securities will be made only by means of a private offering circular pursuant to Rule 144A and Regulation S under the Act.
Contact: William Cowden, Managing Member, IMS, firstname.lastname@example.org
Cautionary Statements Concerning Forward-Looking Statements
This press release contains certain forward-looking statements that the Trust believes to be reasonable as of today's date only. By their nature, these forward-looking statements involve risk and uncertainty because they relate to future events and circumstances including, but not limited to, Ecuador's domestic and global economic and business conditions, the effect of continued volatility in credit markets, market related risks such as changes in interest rates and exchange rates, changes in the valuation of credit market exposures, changes in valuation of issued notes, the policies and actions of governmental and regulatory authorities, and other factors beyond the control of the Trust and IMS. The Trust cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements.
Source: IMS Ecuador Mortgage Loan 2021-1 Trust