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ÁKK sells HUF 25 bln of three-month T-bills, HUF 5 bln over plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 25 bln of discount three-month T-bills at auction today, HUF 5 bln more than planned on more than threefold demand for the papers, Hungarian news agency MTI reported.

The average yield was slightly over that of the previous auction a week earlier but was below yesterday’s secondary market benchmark.

ÁKK raised its original offer after primary dealers submitted bids for HUF 67.8 bln of the papers which expire on March 30.

Average yield was 0.72%, 7 bps under the secondary market benchmark, calculated on a bill expiring two weeks later, but 1 bps over the yield at the previous auction of the bills on December 15.

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