ÁKK sells HUF 25 bln of securities at auction, as planned
The Government Debt Management Agency (ÁKK) sold a combined HUF 25 billion of securities at auction today, sticking to its original offer despite good demand for the twelve-month discount T-bills and for the five-year floating rate bond on offer, Hungarian news agency MTI reported.
ÁKK sold HUF 5 bln of the floater, as planned. Primary dealers bid for HUF 20.8 bln of the papers. Bids slightly exceeded demand at the previous auction of the bonds on May 4 when ÁKK raised its sales to HUF 7 bln. Despite keeping to the original offer the average price fell to 98.40% from 98.43% on May 4.
ÁKK sold HUF 20.0 bln of twelve-month discount T-bills, the planned volume. The bills expire on April 11, 2018. Bids came to HUF 42.9 bln, they rose from HUF 32.3 bln at the May 4 auction. Average yield was 0.12%, back at the all-time low after rising to 0.14% at the previous two of the biweekly auctions and the same as the secondary market benchmark, calculated on the same bill series.
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