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ÁKK securities sales fall short of plan

Debt

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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.

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