ÁKK sells HUF 32.7 bln floaters including non-comp tender

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 27.5 bln of floating rate bonds at an auction on Thursday, about HUF 2.5 bln over the original offer, Hungarian news agency MTI reported today.

Three-year bonds sold at a non-competitive tender held after the auction brought Thursday's primary bond sales to HUF 32.7 bln.

ÁKK sold HUF 22.5 bln of 2017/C bonds, HUF 7.5 bln more than planned. Primary dealers bid for HUF 44.4 bln of the papers. Primary dealers bought an additional HUF 5.2 bln of the bonds at the non-competitive tender, taking up about 60% of the available volume. The average price of the bonds rose for the fourth auction in a row. It rose by 0.14 percentage points from two weeks earlier, to 98.9000%.

ÁKK sold HUF 5.0 bln of 2019/B bonds, just half of the original offer. Dealers' bids came to just HUF 8.9 bln. ÁKK did not invite a non-competitive tender of the five-year bonds in the light of poor demand. The reduced offer kept the average price unchanged at 97.04000%. The average price rose at the previous three auctions held between June 5 and July 17.

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