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ÁKK sells HUF 37.5 bln of securities at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 37.5 billion of securities at auction on Wednesday, HUF 7.5 bln more than planned, state news wire MTI reports.

ÁKK sold HUF 15 bln of discount 12-month T-bills, in line with the original offer. Primary dealers bid for HUF 88.9 bln of the securities. The average yield was 0.74%, 6 bp over the secondary market benchmark and 5 bp lower than the yield at the previous auction of the bills two weeks earlier.

The agency sold HUF 22.5 bln of a seven-year floating-rate bond, raising its original offer by HUF 7.5 bln after dealersʼ bids came to HUF 59.3 bln.

ÁKK sold an additional HUF 8.7 bln of the floaters at a non-competitive tender after the auction.