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ÁKK sells HUF 60 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 60 billion of bonds at auction on Thursday, raising its original offer by HUF 20 bln on healthy demand by primary dealers, state news wire MTI reports.

ÁKK sold HUF 30 bln of three-year bonds, HUF 10 bln over the plan. Dealersʼ bids came to HUF 41.7 bln. The average yield was 1.14%, 7 bp under the secondary market benchmark but 31 bp over the yield at the previous auction of the bonds four weeks earlier.

The agency sold HUF 30 bln of five-year bonds, also HUF 10 bln more than planned. Bids came to HUF 67.4 bln. The average yield was 1.43%, 19 bp under the benchmark and 3 bp lower than the yield at the previous auction of the bonds two weeks earlier.