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ÁKK auctions HUF 55 bln of bonds, slightly over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 55.0 billion of bonds at auction on Thursday, raising its original offer by HUF 5.0 bln on strong demand for the longest term.   

The ÁKK sold HUF 20.0 bln of three-year bonds, in line with the original offer. Primary dealers bid for HUF 28.4 bln of the papers. The average yield was 1.82%, 20 basis points over the secondary market benchmark and 68 bps higher than the yield at the previous auction of the bonds two weeks earlier.  

The ÁKK also sold HUF 20.0 bln of five-year bonds, as planned. Bids came to HUF 25.4 bln, and the average yield was 2.71%, 62 bps over the secondary market benchmark which matures two years earlier. 

Finally, the ÁKK sold HUF 15.0 bln of ten-year bonds, HUF 5.0 bln more than planned, after dealers bid for HUF 21.0 bln. The average yield was 3.51%, 5 bps over the benchmark and 40 bps more than the yield at the previous auction of the bonds four weeks earlier.

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