ÁKK sells HUF 42.5 bln of securities at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 42.5 billion of securities at auction on Wednesday, cutting its offer of discount twelve-month T-bills, but selling more floating-rate bonds than planned, according to a report by state news wire MTI.

ÁKK sold HUF 5 bln of the 12-month bills, cutting its original offer by HUF 10 bln after primary dealers bid for just HUF 7.3 bln of the securities. The average yield was 0.45%, 4 bp over the secondary market benchmark and 2 bp higher than the yield at the previous auction of the bills two weeks earlier.

The agency sold HUF 37.5 bln of the six-year floating rate bonds, raising its original offer by HUF 12.5 bln after bids reached HUF 124.4 bln.

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