ÁKK sells HUF 33.5 bln of securities at auction, below plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 33.5 billion of securities at auction on Thursday, lowering its original offer by HUF 1.5 bln, state news wire MTI reported.
The ÁKK sold HUF 28.5 bln of 12-month discount T-bills expiring on May 22, 2019, HUF 1.5 bln below its original offer of HUF 30 bln. Bids came to HUF 35.6 bln, and the average yield was 0.56%, 3 basis points over the secondary market benchmark, calculated on the same bill series, and 2 bps higher than the yield at the previous auction of the bills two weeks earlier.
In addition, the ÁKK sold HUF 5 bln of five-year floating-rate bonds, in line with its offer. Dealers bid for HUF 11.3 bln of the papers. The average price came to 97.35%, down from 97.30% two weeks earlier.
ADVERTISEMENT
Minister Asks Banks to Introduce Voluntary Rate Caps
Gov't Raises 2023 Deficit Target to 5.2% of GDP
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
