ÁKK Sells HUF 147.5 bln of Bonds at Auction, Over Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 147.5 billion of bonds at auction on Thursday, HUF 77.5 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 65.5 bln of two-year bonds, raising its original offer by HUF 25.5 bln after primary dealers bid for HUF 78 bln of the bonds. The average yield was 11.57%, 159 bp over the secondary market three-year benchmark.

The agency sold HUF 42 bln of five-year bonds, HUF 22 bln more than planned. Bids reached HUF 62.6 bln. The average yield was 9.07%, 50 bp under the benchmark but 23 bp over the yield at the previous auction of the bonds two weeks earlier.

ÁKK sold HUF 40 bln of 10-year bonds, well over the HUF 10 bln original offer. Bids came to HUF 82.1 bln. The average yield was 8.27%, 29 bp under the benchmark but 6 bp over the yield at the bond auction two weeks earlier.

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