FinMin is going to propose RUB 25bn ( USD 0.74bn ) worth of OFZ federal bonds in two auctions this week on January 22 . Issue of series 26215 10-year bonds worth RUB 10bn and series 26216 6-year bonds worth RUB 10bn will be proposed. The first OFZ auction this year by FinMin is testing the demand by proposing both neutral maturities and an average auction amount. Last time, FinMin fully placed RUB 25bn worth of the same type of bonds on December 11 . Issue of series 26215 10-year bonds worth RUB 10bn was placed at an average 7.77% (guidance of 7.79%-7.84%) and issue of series 26216 6-year bonds worth RUB 15bn was placed at an average 7.32% (guidance of 7.29%-7.34%). The demand for the issues was high at RUB 30.8bn and RUB 18.2bn , respectively. Analysts surveyed by Prime attributed high demand to stable external environment and speculative expectations of recovery of the OFZ marker after a weak November.
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