MinFin raises UAH 1.2 bln from local bond sale

Ukraine’s Finance Ministry raised UAH 609 mln and USD
21.5 mln (a total of UAH 1.2 bln in the equivalent) at its weekly auction on
Nov. 6 after raising the same amount in the equivalent at an auction last week.

The highest auction receipts – USD 21.5 mln – came
from the sale of 15M local Eurobonds, which were sold to 19 bidders at a
weighted average interest rate of 7.5%. The government left unsatisfied one bid
at 7.75%.

The government sold 3M UAH-denominated bonds to 15 out
of 17 bidders for UAH 470.7 mln at 19.00%. The rest of UAH receipts came from
the sale of 6M, 9M and 12M bonds, which were all placed at an interest rate of
18.5%.

The government sold 6M bonds to three out of seven
bidders for UAH 7.0 mln, 9M bonds to all five bidders for UAH 52.1 mln and 12M
bonds to five out of six bidders for UAH 78.9 mln.

Evgeniya Akhtyrko: We are not likely to see any significant moves this month from MinFin
neither in interest rates nor in the amount of government receipts on the local
debt market. Two more placements (on Nov. 13 and Nov. 20) of local Eurobonds
are scheduled for this month. Receipts from the placements of these Eurobonds
are likely to compensate the outlays related to the redemption of local
Eurobonds for USD 132.8 mln in November.