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ÁKK Sells HUF 33.5 bln of Securities at Auction, Over Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 33.5 billion of securities at auction on Thursday, more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 25.5 bln of discount 12-month T-bills, raising its original HUF 15 bln offer after primary dealers bid for HUF 115 bln of the securities. Average yield was 14.56%, 19 bp over the secondary market benchmark yield but 13 bp under the yield at the previous auction of the bills two weeks earlier.

The agency sold HUF 8 bln of 10-year floating-rate bonds, cutting its original offer by HUF 2 bln after bids reached just HUF 12.5 bln.

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