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The Ministry of Finance has placed one issue in full at the auction




MOSCOW, 20 Jan – PRIME. The Ministry of Finance of Russia at an auction on Wednesday in full placed federal loan bonds (OFZ) with a constant coupon yield of series 26234 maturing in July 2025 for 20 billion rubles with a demand of 38.97 billion, the ministry said. The cut-off price made 96.0801% of the nominal, the weighted average price – 96.162% of the nominal. The yield on the cut-off price was 5.57% per annum, the weighted average yield was 5.55% per annum. OFZs continue to fall in price, despite the relatively high oil prices, the Ministry of Finance satisfied 60 bids during the auction. The secondary trades were closed yesterday at 96.25% of the nominal, and the weighted average price formed at the level of 96.184% of the nominal, which corresponded to the effective yield to maturity at 5.53% and 5.55% per annum. Thus, the auction was held without a premium on the weighted average yield (cut off with a premium of 2 basis points to the level of the secondary market), said Alexander Yermak, chief analyst of debt markets at BC Region. “Against the background of increased turbulence in the secondary market of government bonds, the RF Ministry of Finance limited its offer at the auction, offering the only short-term issue of OFZ-PD in the amount of 20 billion rubles, which was placed almost in full without a premium on the weighted average yield to the secondary market. such a decision of the issuer and the results of the auction may help normalize the situation on the OFZ market in the near future, “he added. The Ministry of Finance of the Russian Federation, following the results of the placement of two auction days in January, placed government bonds for a total of 51.15 billion rubles. In general, in the first quarter of 2021, the Ministry of Finance plans to offer federal loan bonds for 1 trillion rubles at auctions. The approximate volume of OFZ placement with a maturity of up to five years is 100 billion rubles, from five to 10 years inclusive – 450 billion rubles, from 10 years – also 450 billion rubles.

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