ÁKK sells planned HUF 40 bln of 12-month T-bills
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Hungary’s Government Debt Management Agency (ÁKK) sold a combined HUF 40 bln of securities at auction today, in line with plans, Hungarian news agency MTI reported.
Demand for both papers rose from two weeks earlier and especially the three-year floaters on offer were heavily oversubscribed.
The ÁKK sold HUF 30 bln of twelve-month discount T-bills expiring on December 20 this year, in line with the original offer. Bids came to HUF 62.2 bln. The average yield was 0.26%, 2 bps over the latest secondary market benchmark, calculated on the same bill series, and 7 bps lower than the yield at the previous auction of the bills two weeks earlier.
The ÁKK also sold HUF 10 bln of three-year floating rate bonds, sticking to its original offer despite receiving bids for HUF 68.6 bln. The average auction price rose to 99.56% from 99.46% at the previous auction of the same bond held on December 29.
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