ÁKK Sells HUF 44.5 bln of Bonds at Auction

Debt

The Government Debt Management Agency (ÁKK) sold HUF 44.5 billion of bonds at auction on Thursday, HUF 14.5 bln more than planned, 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 22 bln of the securities. The average yield was 11.35%, 35 bp under the secondary market benchmark and 87 bp lower than the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 23 bln of 10-year bonds, raising its original offer by HUF 13 bln after bids reached HUF 42.9 bln. Average yield was 10.51%, 12 bp over the benchmark, but 16 bp under the yield at the bond auction two weeks earlier.

ÁKK sold HUF 6.5 bln of 20-year bonds, HUF 1.5 bln more than planned. Bids came to HUF 25 bln. Average yield was 9.8%, 19 bp over the benchmark and 41 bp higher than the yield at the previous auction of the bonds four weeks earlier.

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