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ÁKK sells HUF 31 bln of securities at auction, fraction under plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 31 bln of securities at auction today, slightly under the plan, Hungarian news agency MTI reported.

ÁKK sold HUF 25 bln of discount twelve-month T-bills, in line with the original offer, but it cut sales of a five-year floating-rate bond by HUF 2 bln to HUF 6 bln after primary dealers submitted bids for just HUF 8.1 bln.

Demand for the twelve-month bills reached HUF 45.4 bln. Average yield for the papers was 0.95%, 6 bps over the secondary market benchmark but 4 bps under the yield at the previous auction of the securities two weeks earlier.

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