ÁKK raises offer for longest term at bond auction
The Government Debt Management Agency (ÁKK) sold a combined HUF 62.5 bln of bonds at an auction on Thursday, raising its offer for the longest term on strong demand.
ÁKK sold HUF 22.5 bln of the ten-year bonds at the auction, raising its original offer from HUF 15 bln after primary dealers submitted bids for HUF 39.9 bln. Average yield was 4.42%, 5bp under the secondary market benchmark, but 1bp over the yield at the previous auction of the papers two weeks earlier. Yields ranged between 4.39% and 4.45%.
ÁKK sold HUF 20 bln of three-year bonds, as announced. Bids came to HUF 37.8 bln. Average yield was 3.24%, 1bp over the benchmark and 9bp higher than the yield at the previous auction. Yields ranged between 3.20% and 3.26%.
ÁKK sold HUF 20 bln of five-year bonds, too, as planned. Bids reached HUF 28.9 bln. Average yield was 3.56%, 2bp under the benchmark, but 12bp over the yield at the auction two weeks earlier. Yields ranged between 3.51% and 3.59%.
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