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Hungary forint bond issues at 95% of annual plan by mid-September

Telco

Hungary's Government Debt Management Agency (AKK) completed 95% of its annual forint bond issue plan by the middle of September, AKK said on its website on Thursday.

AKK sold a combined HUF 1,163 billion in bonds at the year's auctions in the period as against the HUF 1,230 billion in bond issues planned for the whole year in the issue plan approved at the end of 2011.

AKK sold HUF 985 billion worth of bonds at the auctions themselves and an additional HUF 178 billion at the non-competitive tenders following the auctions.

As the auctions were two and a half times oversubscribed on average, the auction sales exceeded the combined HUF 824 billion original auction offers by HUF 161 billion.

The sale of retail papers - government securities designed for the general public - also well exceeded plans, AKK said. It sold net HUF 329 billion of these securities, almost ten times more than the HUF 38 billion net sales planned for the full year.

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