ÁKK raises offers for all terms at bond auction

Debt

The Government Debt Management Agency (ÁKK) raised its offers for all three terms based on strong demand at a bond auction, Hungarian news agency MTI reported today.

ÁKK sold HUF 30 bln of the three-year bonds, raising its original offer by HUF 10 bln after primary dealers bid for HUF 82.5 bln of the papers. Average yield was 3.07%, 9bp under the secondary market benchmark and 7bp lower than the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 3.05% and 3.09%.

ÁKK sold HUF 30 bln of the five-year bonds, as well. Bids came to HUF 51 bln. Average yield was 3.77%, 11bp over the secondary market benchmark, which matures earlier, but level with the yield at the bond auction held two weeks earlier. Yields ranged between 3.75% and 3.80%.

The ten-year bond sold HUF 22.5 bln. ÁKK raised its offer by HUF 7.5 bln on bids of HUF 66 bln. The average yield was 4.54%, 11bp under the benchmark and the yield at the previous auction. Yields ranged between 4.53% and 4.55%.

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