ÁKK auctions HUF 81.5 bln of bonds, well over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 81.5 billion of bonds at auction on Thursday, raising its original offer by HUF 21.5 bln on strong demand, state news wire MTI reported.

The ÁKK sold HUF 27.5 bln of three-year bonds, HUF 7.5 bln over the plan. Primary dealers bid for HUF 42.9 bln of the papers. The average yield was 0.53%, 3 basis points over the secondary market benchmark and 4 bps higher than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 24.0 bln of five-year bonds, HUF 4.0 bln more than planned. Bids reached HUF 71.6 bln, and the average yield was 1.10%, 7 bps under the benchmark and 9 bps lower than the yield at auction two weeks earlier.

Finally, the ÁKK sold HUF 30.0 bln of ten-year bonds, HUF 10.0 bln more than planned. Bids came to HUF 67.8 bln. The average yield was 2.23%, 10 bps under the benchmark and 23 bps lower than the yield two weeks earlier.

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