Finance Ministry attracts UAH 1.1 bln in local bonds; 1-year UAH rate at 10.8%

At a primary sovereign bond auction yesterday, Ukraine’s Finance Ministry sold UAH 1,173 mln (USD 148 mln) in UAH bonds, up 54% vs. the last week. Mykyta Mykhaylychenko: The highest demand (UAH 1 bln sold) was attracted by one-year papers, the average yield for which was at 10.8%. This is above the previous week’s 9.9% yield for 9-month bonds. Notably, during the last week, foreign investors expanded their holdings of sovereign UAH papers by an additional 5.7% (+18.7% from a week before) to UAH 3.9 bln (USD 0.5 bln).