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ÁKK sells HUF 32 bln of securities, below plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 32 billion of securities at auction on Thursday, lowering its original offer by HUF 15 bln on low demand for 12-month T-bills, according to Hungarian news wire MTI.

The ÁKK sold just HUF 25 bln of 12-month T-bills, well under the HUF 40 bln offer. Primary dealers bid for only HUF 29.8 bln of the papers. The average yield was 0.03%, 3 basis points over the secondary market benchmark and 5 bps higher than the yield at the previous auction of the bills two weeks earlier.

The ÁKK also sold HUF 7 bln of five-year floating-rate bonds, as planned. Dealersʼ bids came to HUF 14.2 bln.

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