ÁKK sells HUF 33 bln of bonds at auction, HUF 8 bln over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 33 bln of bonds at auction today, raising its original offer by HUF 8 bln on strong demand by primary dealers, Hungarian news agency MTI reported.
ÁKK sold HUF 13.0 bln of three-year bonds, HUF 3 bln more than planned. Primary dealers bid for HUF 17.4 bln of the securities. Average yield was 1.74%, 4 bps under the secondary market benchmark and level with the yield at the previous auction of the bonds two weeks earlier.
ÁKK sold HUF 15.0 bln of five-year bonds, HUF 5 bln over the plan. Bids came to HUF 25.6 bln. Average yield was 2.23%, 7 bps under the benchmark and 6 bps lower than the yield two weeks earlier.
ÁKK sold HUF 5.0 bln of 15-year bonds, in line with the original offer. Dealers bid for HUF 8.9 bln of the papers. Average yield was 3.41%, 9 bps under the benchmark but 16 bps over the yield at the previous auction in mid-April.
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