10:46 28.04.2021

Finance Ministry increases sales of hryvnia-pegged govt bonds to UAH 8.4 billion, rate of 5-month bonds grows to 9%

2 min read
Finance Ministry increases sales of hryvnia-pegged govt bonds to UAH 8.4 billion, rate of 5-month bonds grows to 9%

The Ministry of Finance of Ukraine at the primary auctions for the placement of government domestic loan bonds on Tuesday, the first after the news of the withdrawal of part of Russian troops from the Ukrainian border, was able to increase sales of hryvnia-pegged securities to UAH 8.35 billion from UAH 4.59 billion UAH a week earlier.

According to the Ministry of Finance on its website, the cut-off rate for 5-month bonds grew from 8.5% two weeks ago to 9%, for 12 month-bonds it rose from 11.15% a week ago to 11.2%, for 24-month bonds – from 11.8% three weeks ago to 12% and for 36-month bonds – from 12.05% a month ago to 12.3%.

Rate for 19-month securities remained at the level of 11.3%.

Twelve-month government bonds were in the greatest demand, like a week ago: the volume of their placement increased from UAH 4.41 billion to UAH 5.73 billion. In addition, 19-month securities were sold for the amount of UAH 1.21 billion, 24-month bonds for UAH 0.44 billion and 36-month bonds for UAH 0.86 billion, while a week ago the Ministry of Finance sold 19-month bonds for UAH 2.6 million.

At the same time, the volume of sales of "short" government bonds remained relatively small – UAH 0.12 billion with an offer of UAH 0.5 billion, as the Ministry of Finance rejected four of 12 applications for UAH 0.4 billion, in which rates reached 9.2%.

Out of 64 bids submitted for the remaining auctions, the Ministry of Finance rejected only two for UAH 0.1 billion for the purchase of 24-month government bonds at rates up to 12.5% per annum.

In general, the average rate at these auctions rose to 11.33% from 11.18% a week earlier, while the average term increased from 12 to almost 17 months.

In addition, the Ministry of Finance on Tuesday placed 9-month U.S. dollar-pegged bonds for $21.5 million at the previous rate of 3.7% and 9-month euro-pegged bonds for EUR 42 million at the same rate of 2.5%, satisfying all the applications submitted at the auctions.

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