RF Ministry of Finance declared both OFZ auctions invalid – Kommersant
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The Ministry of Finance of Russia recognized two auctions for the placement of federal loan bonds with constant coupon income (OFZ-PD) and indexed denomination failed due to the lack of applications at acceptable price levels, according to the website of the Ministry of Finance.
On the last auction day, August 30, the Ministry of Finance offered investors OFZ with a floating rate (floaters) and OFZ-PD. The total volume of placement amounted to 57.4 billion rubles, which is almost two times lower than the result of the previous auction day.
As a result of the auction on August 30, the total demand for floaters amounted to 185 billion rubles, which is more than 20% lower than the placement indicator three weeks ago (233.9 billion rubles) and the worst result since mid-June. The total demand for OFZ-PD amounted to 3.3 billion rubles, which is the minimum volume since March 2015.
More details – in the material “Floating rate sailed past investors”.
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