On the eve of payments of UAH 12 billion on previously issued government bonds, the Finance Ministry raised UAH 12.33 billion, or $438.4 million

On the eve of payments of UAH 12 billion on previously issued government bonds, the Finance Ministry raised UAH 12.33 billion, or $438.4 million, at yesterday’s weekly auction. To raise the bulk of the money – 82% — the government tweaked interest rates up slightly – to 11.75% for 14-month bonds, and to 11.95% for 2-year bonds. By squeezing the offer of 3-month bonds, the government lowered the rate to 9.45%, from 10%, the Ministry posted on its website. The other novelty was the first sale of 6-year bonds since the financial crisis hit Ukraine in March. In late February, the government sold UAH 1.33 billion of these bonds at 9.95%. Yesterday, the government sold nearly the same amount, but for 12.6%.