ÁKK sells more than planned five- and 15-year bonds on strong demand
Hungary's Government Debt Management Agency (ÁKK) sold HUF 52 billion bonds instead of a planned HUF 43 billion at a bond auction on Thursday, selling more than planned five- and 15-year bonds on strong demand. Yields fell over the board both compared to the previous auction of the bonds and to the respective benchmarks. ÁKK auctioned 15-year bonds for the first time since the end of August when it sold half of the planned amount on poor demand. ÁKK sold HUF 12 billion of the 15-year bonds, raising its original offer by HUF 4 billion after primary dealers submitted bids for HUF 36.4 billion. Average yield for the 15-year bonds was 6.31c, 11bp under the secondary market benchmark. The bond sold at a 7.34% average yield when it was last auctioned on August 23. Auction yields were in a tight range between 6.30% and 6.32% on Thursday.
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