Primary auction results

Обзор облигаций 24.09.2014 The MoF slightly changed the set of bonds offered yesterday and sold UAH0.55bn of bonds with a 12-month maturity to one bank with an interest rate of 17.50%. Investment implications: Yesterday's bond purchases were likely not supported by the NBU via domestic QE, as the interest rate was quite high even though banking sector liquidity was also high and total CDs outstanding remained at about UAH16.0bn.