ÁKK sells HUF 34.5 bln of bonds at auction, HUF 5.5 bln under plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 34.5 billion of bonds at auction today, cutting its original offer by HUF 5.5 bln on paltry demand for the shortest maturity, Hungarian news agency MTI reported.
ÁKK had offered to sell HUF 15 bln of three-year bonds, but accepted none of primary dealersʼ bids to buy just HUF 6.9 bln of the securities.
ÁKK raised its offer for five-year bonds by HUF 5 bln to HUF 20 bln after dealers bid to buy HUF 31 bln. Average yield was 1.75%, 1 bp under the secondary market benchmark and 2 bps lower than the yield at the previous auction of the bonds two weeks earlier.
ÁKK sold HUF 14.5 bln of ten-year bonds, HUF 4.5 bln more than planned. Bids came to HUF 17.6 bln. Average yield was 3.09%, 6 bps over the benchmark, but 2 bps lower than the yield two weeks earlier.
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