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2026-02-18 19:12:07
[Russia's 2040 OFZ Bond Auction Attracts 289 Billion Rubles, Yields 14.75%] ⑴ The Russian Ministry of Finance successfully auctioned OFZ bonds maturing in March 2040 on Wednesday, with a total issuance of 255.2 billion rubles (approximately US$3.35 billion). The auction attracted 289.1 billion rubles in bids, representing an oversubscription rate of 1.13 times. ⑵ In terms of pricing, the closing price was 92.3680% of face value, corresponding to a closing yield of 14.75%. The weighted average price was 92.5204% of face value, with a weighted average yield of 14.73%. ⑶ The auction raised a total of 247 billion rubles. Despite external sanctions pressure, this auction demonstrates the continued demand for Russian sovereign debt from domestic institutions. ⑷ The 14.75% yield level reflects the current high interest rate environment in Russia and the risk premium investors demand for long-term sovereign credit. The 2040 bonds issued this time are an important tool for Russia's long-term financing.
