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ÁKK sells HUF 95 bln of bonds at auction, HUF 45 bln over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 95 billion of bonds at auction on Thursday, HUF 45 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 20 bln of three-year bonds, in line with the original offer. Primary dealers bid for HUF 41.5 bln of the securities. The average yield was 1.1%, 2bp under the secondary market benchmark and level with the yield at the previous auction of the bonds one week earlier. 

The agency sold HUF 45 bln of three-year bonds, raising its original offer by HUF 15 bln. Bids reached HUF 60.4 bln. The average yield was 1.63%, 5 bp over the benchmark and 8 bp higher than the yield at the bond auction one week earlier.

ÁKK sold HUF 30 bln of 10-year bonds, HUF 10 bln more than planned. Bids came to HUF 60.6 bln. The average yield was 2.24%, 2 bp over the benchmark and 6 bp higher than the yield at the previous auction of the bonds two weeks earlier.

The agency sold a further HUF 2.5 bln of the three-year, HUF 0.4 bln of the five-year and HUF 6.2 bln of the 10-year bonds at a non-competitive tender after the auction.