Finance Ministry Sells USD 23 mln in Local Bonds

The Finance Ministry placed USD 23 mln three-year domestic bonds with a yield of 9.4%. The Finance Ministry also offered two-year bonds, but could not place them. The next auction is tentatively scheduled for Oct. 30. Oleksandr Klymchuk: The first day after Fitch improved its outlook on Ukrainian ratings turned out to be special: not only did the government sell a record amount of bonds but the first deal with these three-year bonds (UA3B00022400) was concluded on the PFTS secondary market with a yield of 9.29%, which is 11 bps lower than the yield at the auction. Today, no deals have been registered and there is only one bid quote on paper at 10%. Little by little, the government has sold USD 78 mln from auctions since they were renewed in September. On Oct. 25, the government also redeemed local bonds of USD 45 mln.