ÁKK sells HUF 38.5 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold HUF 38.5 billion of bonds at auction on Thursday, over the plan, according to a report by state news wire MTI.

ÁKK sold HUF 15 bln of five-year bonds, in line with the original offer. Primary dealers bid for HUF 48 bln of the bonds. The average yield was 9.47%, 2 bp under the secondary market benchmark, but 107 bp higher than the yield at the previous auction of the bonds four weeks earlier.

The agency sold HUF 16.5 bln of 10-year bonds, raising its original offer by HUF 6.5 bln after bids reached HUF 33 bln. The average yield was 8.22%, 1 bp over the benchmark but 83 bp under the yield at the last auction of the bonds two weeks earlier.

ÁKK sold HUF 7 bln of 15-year bonds, cutting its offer by HUF 3 bln after bids came to just HUF 12.3 bln. The average yield was 7.99%, 3 bp over the benchmark and 1 bp higher than the yield at the previous auction of the bonds four weeks earlier.

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