ÁKK raises offer on strong demand at securities auction
The Government Debt Management Agency (ÁKK) sold HUF 80 bln of securities at an auction on Thursday, raising its original offer by one-third on strong demand, Hungarian news agency reported today.
ÁKK sold HUF 50 bln of discount twelve-month T-bills, HUF 10 bln more than planned. Bids by primary dealers came to HUF 85.1 bln.
Average yield was 1.68%, 1bp under the secondary market benchmark and 9bp lower than the yield at the previous auction of the papers two weeks earlier. Yields ranged between 1.63% and 1.70%.
ÁKK sold HUF 30 bln of a three-year floating-rate bond, HUF 10 bln more than planned. Bids came to HUF 107.1 bln.
At a non-competitive tender after the auction, ÁKK sold an additional HUF 10.4 bln of the floaters. Dealers offered HUF 11 bln at the tender.
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