SMI plans to sell UAH 500 mln more in bonds at June 26 auction

Ukraine’s State Mortgage Institution is planning to sell UAH 500 mln more in local bonds at an auction on June 26, Chairman of SMI Andriy Kamuz said in an interview today with daily Kommersant. According to Kamuz, consultations are currently underway regarding the agency’s plans. SMI sold UAH 502 mln in local bonds, of a total planned issuance of UAH 1 bln, at a bond auction Friday conducted on the PFTS. The bonds had a coupon of 12.1%. The SMI is similar to the U.S.’s Fannie Mae, and was created by the Ukrainian government to facilitate mortgage lending. All the SMI bond issues have a quasi-sovereign status as they are guaranteed by the government.