Ministry of Finance Conducts a Successful Domestic Government Bond Switch Auction: Bids Satisfied for UAH 17.36 Billion

On January 14, 2026, the Ministry of Finance of Ukraine conducted a domestic government bond switch auction. Demand from market participants amounted to UAH 17.36 billion.

Investors were offered to exchange domestic government bonds of one issue with a maturity date of February 18, 2026, for bonds of another issue with a maturity date of September 26, 2029 (with a maturity of 3.7 years).

Following the auction results, the weighted average yield of the placed bonds amounted to 14.96%, while the cut-off yield stood at 15%.

As part of the switch operation, domestic government bonds with a maturity date of February 18, 2026, totaling UAH 17.84 billion – equivalent to 16.43 million bonds – will be redeemed and cancelled by the Ministry of Finance of Ukraine.

Switch auctions are a crucial instrument for effective public debt management. Such operations help reduce the one-time payments from the treasury account during bond redemption, enhance market liquidity, and improve MinFin’s liquidity management. They also contribute to the development of the domestic government bond market and strengthen investor confidence in Ukraine’s government securities.