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ÁKK sells HUF 48 bln of securities, slightly under plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 48 billion of securities at auction on Thursday, HUF 2 bln less than planned, state news wire MTI reports.

ÁKK cut its offer for discount 12-month T-bills by HUF 7 bln as yields climbed, but raised its offer for a seven-year floating rate bond by HUF 5 bln.

ÁKK sold HUF 23 bln of the T-bills. Primary dealersʼ bids came to HUF 61.3 bln. The average yield was 0.19%, 10 bp over the secondary market benchmark and 13 bp higher than the yield at the previous auction of the bills two weeks earlier.

ÁKK sold HUF 25 bln of the seven-year floaters. Bids reached HUF 69.9 bln.