Russian MinFin sells 31.2 bln rubles in bonds
MOSCOW. June 8 (Interfax) - The Russian Finance Ministry sold 31.2 billion rubles of the 40 billion rubles in federal bonds that it offered at two auctions on June 8.
The Central Bank said on its website that it sold 11.74 billion rubles of the 20 billion rubles in constant-coupon federal bonds series OFZ-PD 26206 that if offered at one of the auctions. The average weighted price was 99.033% or 7.75% pa. Demand was 13.36 billion rubles at face value and 12.905 billion rubles at market value. The Finance Ministry raised 11.6 billion rubles.
The cut-off price was 98.9972%, corresponding to yield of 7.75%.
The MinFin gave yield guidance of 7.65-7.75% ahead of the auction.
The bonds, which mature on June 14, 2017, have 12 semi-annual coupons at 7.5% pa.
The MinFin also sold 19.49 billion rubles of the 20 billion rubles in shorter constant-coupon federal bonds series OFZ-PD 25079 that it offered at the other auction. The average weighted price was 99.82% or 7.18% pa. Demand was 46.13 billion rubles at face value and 45.915 billion rubles at market value. The Finance Ministry raised 19.48 billion rubles.
The cut-off price was 99.7883%, corresponding to yield of 7.18%.
The MinFin gave yield guidance of 7.1-7.2% ahead of the auction.
The bonds, which mature on June 3, 2015, have eight semi-annual coupons at 7.0% pa.
