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ÁKK bond sales fall slightly short of plan

Debt

The Government Debt Management Agency (ÁKK) sold a total of HUF 62 billion of bonds at auction on Thursday, lowering its original combined offer by HUF 3 bln, state news wire MTI reported.

The ÁKK sold HUF 17.0 bln of three-year bonds, HUF 3 bln below its original offer. Primary dealers bid for HUF 23.72 bln of the securities. The average yield was 1.22%, 11 basis points over the secondary market benchmark, and 3 bps over the yield at the previous auction of the bonds.

The ÁKK also sold HUF 25.0 bln of five-year bonds, in line with its original offer as primary dealersʼ bids came to HUF 40.15 bln.  The average yield was 2.34%, 7 bps over the benchmark, and 7 bps over the yield at the previous auction.

Finally, the ÁKK sold HUF 20.0 bln of ten-year bonds, in line with its original offer. Bids reached HUF 39.75 bln, and the average yield was 2.84%, 5 bps over the benchmark, and 8 bps higher than the yield at the previous auction. 

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