### Russian Finance Ministry Raises $47.8 Billion Rubles in OFZ Bond Sale
The Russian Ministry of Finance successfully auctioned off Federal Loan Bonds (OFZ) series 26235, raising 47.8 billion rubles ($637 million) in proceeds. The total demand for the bonds reached 100.9 billion rubles ($1.3 billion), while the total offering amounted to 223.1 billion rubles ($2.9 billion).
The bonds were sold at a cutoff price of 73.0575% of face value, with an average weighted price of 73.1406%. The yield to maturity based on the cutoff price was 14.14% per annum, while the yield based on the average weighted price was 14.11% per annum.
The coupon rate for the entire circulation period is fixed at 5.90% per annum. The bonds will mature on March 12, 2031.
This overview was presented by Alexei Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.
*Note: Currency conversions are approximate and based on current exchange rates.*