Finance Ministry sells UAH 1 bln in five-year local bonds

The Finance Ministry sold UAH 1.04 bln in local bonds at auction yesterday. The issue had a five-year tenor and 15.6% YTM. According to the government’s schedule, it was not planning to offer the five-year notes in 1Q09. Interfax sources speculated that the purchase was made by a local bank who will soon resell the issue or use the bonds to facilitate refinancing with the National Bank of Ukraine.