Unscheduled primary auction

Обзор облигаций 07.11.2014 In an unscheduled primary auction held yesterday, the MoF sold UAH936.0m of 2-year bonds to two bidders at 16.52%, providing the state budget with UAH936.41m of proceeds. Investment implications: Yesterday's proceeds covered nearly half of Wednesday's debt repayments that amounted to UAH1.72bn in local currency and US$10.33m (UAH139.93m at market exchange rate), most likely supported by domestic QE.