Finance Ministry Announces Results of Second Local Bond Auction
4 July 2008
The government attracted UAH 113 mln (USD 22 mln) at its second local bond auction of the year, selling 1.5 year notes at 7.00%, three-year notes at 6.59% and five-year notes at 6.00%. The long-term securities of five and ten-year tenors did not find takers at 5.40% and 5.10%, respectively. Oleksandr Klymchuk: On strong demand, the government chose to decrease yields for its securities and as a result it raised only UAH 113 mln versus the UAH 801 mln on the previous auction. This might indicate that the government has enough funds to meet current budget needs and is not going to engage in populist spending in the run up to the early parliamentary elections.
