MinFin bond auction receipts plummet to UAH 66 mln

Ukraine’s Finance Ministry raised UAH 66 mln at its
weekly bond auction on Feb. 15 after raising the total equivalent of UAH 2.1
bln last week.

MinFin sold 5M bonds to all eight bidders for UAH 55
mln at 11.60% (vs. 11.50% for these bonds two weeks ago). The rest of the
auction receipts came from the sale of 1Y bonds to seven out of eight bidders
with a weighted average interest rate of 11.93%.

Evgeniya Akhtyrko: It’s not
surprising that the market members practically ignored the latest local bond
auction, as the geopolitical situation around Ukraine has come to another
ever-hot phase.

Next week, MinFin is to offer six types of UAH denominated
bonds with terms of maturity ranging from three months to four years as well as
6M EUR denominated bonds. We don’t expect the situation at the primary bond
market to improve even if the geopolitical tension comes down.