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ÁKK bond auction sales exceed plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 74.0 billion of bonds at auction on Thursday, raising its original offer by HUF 14.0 bln on strong demand for the two shorter-term bonds, state news wire MTI reported.  

The ÁKK sold HUF 30.0 bln of three-year bonds, HUF 10.0 bln over plan. Dealers bid for HUF 63.5 bln of the securities. The average yield was 1.37%, 1 basis point down from the secondary market benchmark yield, but 11 bps over 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 78.3 bln. The average yield was 2.09%, 2 bps under the benchmark, but 23 bps higher than the yield two weeks earlier.

Finally, the ÁKK sold HUF 10.5 bln of 15-year bonds, HUF 4.5 bln less than planned. Bids added up to HUF 19.5 bln. The average yield was 3.75%, 4 bps over the benchmark, but 2 bps under the yield at the previous 15-year auction held on January 31.

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