State Mortgage Institution's UAH 500 mln bond auction fails

The State Mortgage Institution was unable to place UAH 500 mln in local bonds at a planned sale yesterday due to a lack of claims, Kommersant reported this morning. The bonds were part of a total planned issuance of UAH 1 bln that is to facilitate the government’s plans to complete residential complexes that are nearly completed. The first portion of the issue, in the amount of UAH 500 mln, was purchased by state-owned Oshchadbank at an auction on June 19. The proposed bond sale has been rescheduled for next week.