Natural gas talks; Ukraine banks P&L in Nov-11; gov\'t bond auction results review

The MoF offered 11 different bonds yesterday, including ordinary bonds, USD-indexed bonds and USD-denominated bonds. There was only one ordinary bond with a 1.5 year tenor and maturity on 31 July, 2013, which, although offered in ten prior MoF auctions this year, sold only twice at a total volume of UAH77.0m. At the auction\'s close, the MoF sold only USD85.51m (par value) of USD-denominated bonds, fulfilling nine out of ten submitted bids, as follows: the 1-year USD-denominated bond, which received four bids for USD25.2m at rates between 9.0% and 9.3%; the 6-month zero-coupon bond received three bids, from which the MoF accepted only two, for USD35.31bn with rates at 8.5% and 9.0%; and all three bids submitted for the 9-month zero-coupon bond, with rates between 8.3% and 8.75%, for a total of USD25.0m. As a result, the MoF received USD82.5m, or UAH659.07m, at the NBU\'s official USD/UAH interest rate. Today, the MoF will continue its 3-day auction, offering the same bonds as yesterday (excluding the 2-year ordinary bond). Details of today\'s auction are presented in the table below.
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