State Mortgage Institution Announces Placement Of Its Series A-E Bonds

The SMI announced yesterday the placement of its five-year series A-E bonds with a 9.4% YTM attracting a total of UAH 275 mln ( ~ USD 54 mln).  Oleksandr Klymchuk: 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.  Apart from these four issues, the SMI has to place the remaining six (totaling for USD 144 mln) by December 28, 2007.