ÁKK sells HUF 40 bln of bonds at auction, under plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 40.0 billion of bonds at auction on Thursday, cutting its original offer by HUF 15.0 bln on poor demand for the shortest term, state news wire MTI reports.
ÁKK had planned to sell HUF 20.0 bln of five-year bonds but accepted none of the paltry HUF 9.8 bln of bids by primary dealers.
However, dealers bid for HUF 44.0 bln of ten-year bonds, and AKK accepted HUF 25.0 bln of those, HUF 5.0 bln over the plan. Average yield was 1.80%, 3 bp over the secondary market benchmark and 22 bp higher than the yield at the previous auction of the bonds two weeks earlier.
ÁKK sold HUF 15.0 bln of 15-year bonds, as planned. Bids came to HUF 23.5 bln. Average yield was 2.13%, 8 bp over the benchmark and 24 bp higher than the yield two weeks earlier.
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