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ÁKK bond auction exceeds plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 83.5 billion of bonds at auction on Thursday, raising its original offer by HUF 18.5 bln, state news wire MTI reported.

The ÁKK sold HUF 20.0 bln of three-year bonds, as planned. Dealers bid for HUF 33.05 bln of the securities, and the average yield was 1.50%, 1 basis point above the secondary market benchmark yield and 11 bps above the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 33.5 bln of five-year bonds, raising its original offer by HUF 8.5 bln, after bids came to HUF 127.95 bln. The average yield was 2.25%, 2 bps under the benchmark, but 11 bps higher than the yield two weeks earlier. 

Finally, the ÁKK sold HUF 30.0 bln of ten-year bonds, HUF 10.0 bln over plan. Bids added up to HUF 69.43 bln. The average yield was 3.30%, 3 bps under the benchmark, but 7 bps over the yield at the previous auction.

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