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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, HUF 7.5 bln more than planned as primary dealers showed strong demand for a seven-year floating-rate bond, state news wire MTI reports.

ÁKK sold HUF 20 bln of discount twelve-month T-bills, in line with the original offer. Primary dealers bid for HUF 32.8 bln of the securities. The average yield was 0.33%, 3 bp over the secondary market benchmark, but 3 bp under the yield at the previous auction of the bills two weeks earlier.

The agency sold HUF 22.5 bln of the seven-year floaters, raising its original offer from HUF 15 bln after dealersʼ bids reached HUF 59.2 bln.

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