Bank URALSIB March 1, sell OFZ 26207 in the amount to 45 billion rubles

© Photo : courtesy of the press service of the Bank «URALSIB»Bank URALSIB. Archive photoBank URALSIB March 1, sell OFZ 26207 in the amount to 45 billion rubles© Photo : courtesy of the press service of the Bank «URALSIB»

Bank URALSIB March 1, will hold an auction for the sale of their portfolio of Federal loan bonds (OFZ) series 26207 maturing in February 2027 in the amount to 45 billion rubles, is spoken in the message of the credit organization.

The minimum price set in the amount of 108.7% of par. The primary priority for requests will be the price, further the time of placing the order.

The Bank’s net investments in OFZ bonds held to maturity in February 2027 — January 2028, as of October 1, 2017 was $ 83,9 billion rubles, evidenced by the interim financial statements of the Bank.

In a press-service of the Bank explained that selling is not related to liquidity needs, as bonds OFZ completely liquid in the REPO market, so this sale’s liquidity position practically does not change.

«The Bank’s decision to sell the OFZ portfolio is due solely to the conjuncture of the market and the desire to commit the accumulated positive revaluation. The proceeds from the sale of funds the Bank plans to place in similar instruments, thereby maintaining the volume of its investment securities portfolio at the target level. Auction, in the Bank’s opinion, is the most efficient and transparent way of selling a large volume of securities», — said the representative of the press service.

The Bank of Russia and Agency on insurance of contributions (ASV) at the end of 2015, reported on the reorganization of the Bank «URALSIB», was the namesake financial Corporation. The turnaround of the Bank was first selected physical person: ASV provided businessman Vladimir Kogan loans for a total amount of 81 billion rubles for the financial rehabilitation of «URALSIB».

Source