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ÁKK sells HUF 42.5 bln of securities at auction, over plan

The Government Debt Management Agency (AKK) sold a combined HUF 42.5 billion of securities at auction on Wednesday, more than planned, state news wire MTI reports.

ÁKK sold HUF 20 bln of discount twelve-month T-bills, in line with the original offer. Primary dealers bid for HUF 39 bln of the securities. The average yield was 0.42%, 2 bp over the secondary market benchmark and 3 bp higher than the yield at the previous auction of the bills about two weeks earlier.

The agency sold HUF 22.5 bln of seven-year floating-rate bonds, raising its original offer by HUF 7.5 bln after bids reached HUF 43.2 bln.

ÁKK sold a further HUF 7.5 bln of the floaters at a non-competitive tender after the auction.