ÁKK sells HUF 41 bln of securities at auction, under plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 41 bln of securities at auction today, lowering its original offer by HUF 7 bln on weak demand, Hungarian news agency MTI reported.

ÁKK sold HUF 37 bln of discount twelve-month T-bills, lowering its original offer by HUF 3 bln after primary dealers bid for just HUF 45.7 bln of the papers. Average yield was 1.20%, 2 bps over the secondary market benchmark and 20 bps higher than the yield at the previous auction of the bills two week earlier.

ÁKK sold HUF 4 bln of three-year floating rate bonds, halving its original offer after bids came to only HUF 4.8 bln.

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