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ÁKK sells HUF 102.5 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 102.5 billion of bonds at auction on Thursday, HUF 27.5 bln more than planned, state news wire MTI reports.

ÁKK sold HUF 20 bln of three-year bonds, in line with the original offer. Primary dealers bid for HUF 41.5 bln of the securities. The average yield was 0.97%, 3 bp under the secondary market benchmark yield, but 4 bp over the yield at the previous auction of the bonds one week earlier.

The agency sold HUF 52.5 bln of five-year bonds, raising its original offer by HUF 17.5 bln after dealersʼ bids came to HUF 76.5 bln. The average yield was 1.3%, level with the benchmark, but 2 bp over the yield one week earlier.

ÁKK sold HUF 30 bln of 10-year bonds, HUF 10 bln more than planned. Bids reached HUF 38.3 bln. The average yield was 2.22%, level with the benchmark and 9 bp under the yield at the previous auction of the bonds two weeks earlier.