State Mortgage Institution sells UAH 502 mln at bond auction

Ukraine’s State Mortgage Institution 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, Interfax reported. The bonds were placed at 12.1% YTM. The State Mortgage Institution 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.