ÁKK Sells HUF 45 bln of Bonds at Auction, Above Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 45 billion of bonds at auction on Thursday, HUF 15 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 24.5 bln of five-year bonds, raising its original offer by HUF 9.5 bln after primary dealers bid for HUF 54.2 bln of the securities. The average yield was 9.35%, 31 bp under the secondary market benchmark, but 38 bp over the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 15.5 bln of 10-year bonds, HUF 5.5 bln over the original offer. Bids reached HUF 32.4 bln. The average yield was 8.46%, 31 bp under the benchmark but 60 bp higher than the yield at the auction two weeks earlier.

ÁKK sold HUF 5 bln of 15-year bonds, as planned. Bids came to HUF 10.7 bln. The average yield was 8.26%, 27 bp under the benchmark but 27 bp over the yield at the previous auction of the bonds four weeks earlier.

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