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ÁKK sells HUF 105 bln of bonds at auction, HUF 15 bln over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 105 billion of bonds at auction on Thursday, HUF 15 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 39.8 bln of the securities. The average yield was 0.98%, 5 bp under the secondary market benchmark and 17 bp lower than the yield at the previous auction two weeks earlier.

The agency sold HUF 40 bln of five-year bonds, raising its original offer by HUF 5 bln after bids reached HUF 54 bln. The average yield was 1.47%, 3 bp under the benchmark and 5 bp lower than the yield at the previous auction of the bonds one week earlier.

ÁKK sold HUF 45 bln of 10-year bonds, HUF 10 bln more than planned. Bids came to HUF 66 bln. Average yield was 2.14%, 1 bp under the benchmark and level with the yield at the bond auction one week earlier.

According to the report, the agency sold an additional HUF 1 bln of the three-year, HUF 2 bln of the five-year and HUF 3.7 bln of the 10-year bonds at a non-competitive tender after the auction.