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ÁKK auctions HUF 75 bln of bonds, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 75.0 billion of bonds at auction on Thursday, raising its original offer by HUF 20.0 bln on strong demand from primary dealers, state news wire MTI reported.

The ÁKK sold HUF 22.5 bln of three-year bonds, raising its original offer by HUF 2.5 bln after dealersʼ bids reached HUF 29.6 bln. The average yield was 1.27%, 1 basis point over the secondary market benchmark, but 20 bps under the yield at the previous auction of the securities two weeks earlier.

The ÁKK also sold HUF 30.0 bln of five-year bonds, HUF 10.0 bln more than planned. Bids came to HUF 55.4 bln, and the average yield was 2.66%, level with the benchmark but 17 bps under the yield at the auction two weeks earlier.

Finally, the ÁKK sold HUF 22.5 bln of ten-year bonds, raising its offer by HUF 7.5 bln, after bids reached HUF 60.5 bln. The average yield was 3.15%, the same as the benchmark but 48 bps lower than the yield at the previous auction of the bonds four weeks earlier.

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