ÁKK sells HUF 85 bln of bonds at auction

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 85 billion of bonds at auction on Thursday, HUF 10 bln under the plan, according to a report by state news wire MTI.

ÁKK sold HUF 35 bln of five-year bonds, in line with the original offer. Primary dealers bid for HUF 53.1 bln of the securities. The average yield was 1.52%, 4 bp under the secondary market and 2 bp lower than the yield at the previous auction of the bonds one week earlier.

The agency sold HUF 30 bln of 10-year bonds, cutting its original offer by HUF 5 bln after bids reached just HUF 39.5 bln. The average yield was 2.14%, 3 bp under the benchmark but 6 bp over the yield at the auction one week earlier.

ÁKK sold HUF 20 bln of 15-year bonds, also HUF 5 bln under the plan. Bids came to HUF 31.7 bln. The average yield was 2.32%, 1 bp under the benchmark and 33 bp lower than the yield at the previous auction of the bonds on October 15.

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