Unscheduled primary auction

Unscheduled primary auction



28 листопада 2014 года
ICU

At yesterday's unscheduled primary auction, the MoF offered the same 2-year bond as was offered at the last several auctions. This auction was anticipated as this week's earlier auction raised insufficient funds.

Demand was significantly larger yesterday at UAH600.0m (par value), attracting one bid at the usual interest rate of 17.60%. Providing the state budget with UAH602.23m in proceeds, demand most likely was supported by domestic QE, as state budget funds used for local-currency repayments made this Wednesday amounted to UAh608.34m.

As there were also recent repayments in FX, we could see another auction offering FX denominated bonds.

Источник: ICU

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