Unscheduled primary auction

Обзор облигаций 13.11.2014 The MoF held an unscheduled auction yesterday in which it offered the 2-year bond which was withdrawn from Tuesday's auction. Paltry demand of UAH5.98m (par value) at the routine rate of 16.52% was accepted yesterday, a volume which would have been rejected earlier this year. Investment implications: The MoF likely received a bid planned for Tuesday's auction had the bond been offered. Yesterday's proceeds are still insufficient to cover debt repayments.