10 Aug 2011 14:43

Russian MinFin sells less only 25 mln rubles in bonds at auction

MOSCOW. Aug 10 (Interfax) - The Russian Finance Ministry sold a mere 25 million rubles of the 25 billion rubles in constant-coupon federal bonds series OFZ-PD 26205 that it offered at an auction on August 10.

The Central Bank said on its website that the average weighted price was 99.6% or 7.8% pa. Demand was 230 million rubles at face value and 233.376 million rubles at market value. The Finance Ministry raised 25.521 billion rubles.

The cut-off price was 99.6%, corresponding to yield of 7.8%.

The MinFin gave yield guidance of 7.7%-7.8% ahead of the auction.

The bonds, which mature on April 14, 2021, have 20 semi-annual coupons at 7.6% pa.