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ÁKK sells HUF 80 bln of bonds, HUF 25 bln over plan

The Government Debt Management Agency (ÁKK) sold HUF 80 billion of bonds at auction on Thursday, raising its original offer by HUF 25 bln on strong demand by primary dealers, state news wire MTI reports.

ÁKK sold HUF 20 bln of three-year bonds, HUF 5 bln more than planned. Dealersʼ bids came to HUF 60.2 bln. The average yield was 0.49%, 2 bp under the secondary market benchmark but 21 bp over the yield at the previous auction of the bonds four weeks earlier.

The agency sold HUF 30 bln of five-year bonds, raising its original offer by HUF 10 bln after dealers bid for HUF 63.5 bln of the securities. The average yield was 1.33%, 2 bp under the benchmark, but 15 bp over the yield at the bond auction four weeks earlier.

ÁKK sold HUF 30 bln of ten-year bonds, HUF 10 bln over the plan. Bids reached HUF 51.2 bln. The average yield was 2.08%, 8 bp under the benchmark but 2 bp over the yield at the previous auction of the bonds two weeks earlier.