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ÁKK sells HUF 45 bln of bonds at auction, as planned

Hungary’s Government Debt Management Agency (ÁKK) sold a combined HUF 45 billion of bonds at auction today, in line with the original offer, according to Hungarian news agency MTI.

The ÁKK sold HUF 20 bln of three-year bonds. Primary dealers bid for HUF 71.3 bln of the papers. The average yield was 1.17%, 14 bps over the yield at the previous auction of the securities four weeks earlier.

The ÁKK sold HUF 15 bln of five-year bonds. Bids reached HUF 32.2 bln. The average yield was 2.00%, 6 bps over the yield at the previous auction.

Both of the bonds are new and their maturities do not match those of the three and five-year benchmarks.

The ÁKK also sold HUF 10 bln of ten-year bonds. Offers came to HUF 18.3 bln. The average yield was 3.24%, level with the secondary benchmark, but 6 bps under the yield at the auction four weeks earlier.