ÁKK sells HUF 47.5 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 47.5 bln of bonds at auction on Thursday, raising its original offer by HUF 7.5 bln, state news wire MTI reported.

The ÁKK sold HUF 15 bln of three-year bonds, in line with its original offer as primary dealers bid to buy HUF 29.50 bln of the securities. The average yield was 0.82%, the same as the secondary market benchmark, but 3 bps lower than the yield at the previous auction of the bonds.

The ÁKK also sold HUF 22.5 bln of five-year bonds, raising its original offer by HUF 7.5 bln, after dealers bid to buy HUF 57.40 bln. The average yield was 1.80%, 5 bps under the secondary market benchmark and 1 bp higher than the yield at the previous auction of the bonds.

In addition, the ÁKK sold HUF 10 bln of fifteen-year bonds, in line with its original offer. Bids came to HUF 16.25 bln. The average yield was 3.66%, 3 bps under the benchmark, but 4 bps higher than the yield at the previous auction.

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