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The Ministry of Finance exceeded the quarterly OFZ placement plan by 2.6 times (November 2, 2022)

The Ministry of Finance of the Russian Federation placed federal loan bonds (OFZ) for a total of 166.976 billion rubles at unlimited auctions. At the first auction, bonds with a fixed coupon income for 47.5 billion rubles were placed, at the second – bonds with a variable coupon income for 108.4 billion rubles, at the third – OFZs with an indexed par value for 11 billion rubles.


As reported on the website of the ministry, at the auction for the placement of OFZ with a constant coupon income of issue No. 26240RMFS with a maturity date of July 30, 2036, securities were sold in the amount of 47.499 billion rubles with a demand of 132.713 billion rubles. The proceeds from the placement are estimated at 36.669 billion rubles. The weighted average price was 75.7043% of the face value, which corresponds to a yield of 10.62% per annum. The cut-off price was set at 74.092% of the face value, which corresponds to a yield of 10.9% per annum.


At the second auction, held on November 2, floaters of OFZ-PK series 29021 with maturity on November 27, 2030 were sold for a total amount of 108.424 billion rubles at face value with a demand of 173.991 billion rubles. The proceeds from the auction amounted to 105.707 billion rubles with a cut-off price of 97.04% of the face value and a weighted average price of 97.18% 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 in the amount of 11.053 billion rubles were sold on that day with a demand of 19.198 billion rubles. Proceeds from the placement amounted to 10.36 billion rubles with a cut-off price of 93.32% of the face value and a weighted average price of 93.48% of the face value.


A week earlier, on October 26, the Ministry of Finance held similar unlimited auctions. The total volume of OFZ placement amounted to 177.56 billion rubles, and the total demand reached 337 billion rubles, which is the best result since April 2021. A week earlier, at two auctions held on October 19, OFZs were placed for a total of 50 billion rubles. Thus, the Ministry of Finance for three auction days (October 19 and 26, November 2) was able to attract 394.53 billion rubles, having exceeded the quarterly plan for placement of government bonds by more than 2.6 times. The agency planned to place OFZs with a total volume of up to 150 billion rubles at par value in the fourth quarter of 2022.

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