ÁKK securities sales fall short of plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 22.5 billion of securities at auction on Thursday, lowering its original offer by HUF 12.5 bln.
The ÁKK sold HUF 17.5 bln of 12-month discount T-bills, HUF 12.5 bln below its original offer of HUF 30 bln. Bids came to HUF 23.91 bln, and the average yield was 0.54%, 16 basis points over the secondary market benchmark and 14 bps higher than the yield at the previous auction of the bills two weeks earlier.
The ÁKK also sold HUF 5 bln of five-year floating-rate bonds after dealers bid for HUF 7 bln of the papers.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.