News

Demand for government debt bonds at unlimited auctions exceeded supply by 13 times (November 9, 2022)

The Ministry of Finance of the Russian Federation placed federal loan bonds (OFZ) for a total of 41.97 billion rubles at unlimited auctions. At the first auction, with the demand 19 times higher than the offer, securities with a constant coupon income for 16.2 billion rubles were placed; at the second auction, the demand was 11 times higher than the offer – bonds with a variable coupon income – OFZs with an indexed par value were sold in the amount of 7.1 billion rubles, while the demand for them was three times higher, follows from the information on the website of the Ministry of Finance.


According to the agency, at the auction for the placement of OFZ with a constant coupon income of issue No. 26237RMFS with a maturity date of March 14, 2029, securities were sold in the amount of 16.195 billion rubles with a demand of 307.846 billion rubles. The proceeds from the placement are estimated at 13.919 billion rubles. The weighted average price was 85.0244% of the face value, which corresponds to a yield of 10.18% per annum. The cut-off price was set at 84.5% of the face value, which corresponds to a yield of 10.31% per annum.


At the second auction, held on November 9, OFZ-PK floaters of issue No. 29021RMFS with a maturity date of November 27, 2030 were sold for a total amount of 18.637 billion rubles at face value with a demand of 208.972 billion rubles. The proceeds from the auction amounted to 18.207 billion rubles with a cut-off price of 97.2295% of the face value and a weighted average price of 97.2311% of the face value.


At the auction for the placement of OFZ with an indexed par value No. 52004RMFS with a maturity date of March 17, 2032, securities were sold in the amount of 7.134 billion rubles on that day with a demand of 20.273 billion rubles. Proceeds from the placement amounted to 6.685 billion rubles with a cut-off price of 93.33% of the face value and a weighted average price of 93.41% of the face value.


A week earlier, almost 167 billion rubles worth of federal loan bonds were placed at three unlimited auctions, and on October 26, the total volume of OFZ placements amounted to 177.56 billion rubles.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button