Yesterday, the MoF offered only three-year bonds, likely after consultations with primary dealers indicating that only this issue would attract demand. Tightening of the offering to one bond supported demand by concentrating on this maturity. But total demand was insufficient compared with last week's auction. Banks submitted only three bids amounting to UAH423m, which was an unexpectedly large due to lack of bond redemptions this week and insufficient payments of interest payments. Bids were submitted with a simple rate, 14.54%, the same as last week's cut-off and weighted-average interest rate.
ICU is an asset management and investmnet banking company.