ÁKK sells HUF 35 bln of bonds at auction, under plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 35 billion of bonds at auction on Thursday, HUF 20 bln under plan, according to a report by state news wire MTI.

ÁKK sold HUF 10 bln of five-year bonds, cutting its original offer by HUF 15 bln after primary dealers bid for just HUF 18.9 bln of the securities. The average yield was 4.96%, 17 bp over the secondary market benchmark and 37 bp higher than the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 20 bln of 10-year bonds, in line with the original offer. Bids reached HUF 49.4 bln. The average yield was 4.99%, 12 bp over the benchmark and 36 bp higher than the yield two weeks earlier.

ÁKK sold HUF 5 bln of 20-year bonds, halving its original offer after bids came to HUF 9.6 bln. Average yield was 5.15%, 14 bp over the benchmark, and the yield at the previous auction of the bonds four weeks earlier.

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