ÁKK sells HUF 20 bln of three-month T-bills, over plan
The Government Debt Management Agency (ÁKK) sold HUF 20 billion of discount three-month T-bills at auction on Tuesday, raising its original offer by HUF 5 bln, according to state news agency MTI.
Primary dealers bid for HUF 38.32 bln of the securities, expiring on January 24, 2018.
The average yield was negative 0.05%, 1 bp under the secondary market benchmark but level with the yield at the previous auction of the bills one week earlier.
This was the first time the ÁKK accepted oversubscription at a three-month bill auction since June 13.
This is the fourth auction the debt manager has held for bills expiring next year.
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.