ÁKK sells HUF 48 bln of bonds at auction, slightly over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 48 billion of bonds at auction on Thursday, raising its original offer by HUF 3 bln on strong demand for the ten-year papers, Hungarian news agency MTI reported.
The ÁKK sold HUF 18 bln of three-year bonds, as planned. Primary dealers bid for HUF 69.2 bln of the papers. The average yield was 1.52%, 3 bps under the secondary market benchmark and 4 bps lower than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK sold HUF 15 bln of five-year bonds, also in line with the original offer. Bids came to HUF 39.7 bln. The average yield was 2.22%, level with both the benchmark and the yield at the previous auction.
The ÁKK raised its offer for ten-year bonds to HUF 15 bln after bids reached HUF 34.9 bln. The average yield was 3.43%, 2 bps under the benchmark and 14 bps lower than at the auction two weeks earlier.
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