ÁKK sells HUF 48 bln of bonds at auction, over plan
The Government Debt Management Agency (ÁKK) sold a total HUF 48 bln of bonds at auction today, raising its original offer by HUF 5 bln on strong demand for the ten-year papers, Hungarian news agency MTI reported.
The ÁKK sold HUF 15 bln of ten-year bonds, raising its offer after primary dealers bid for HUF 63.3 bln of the securities. The average yield was 3.57%, 2 bps under the secondary market benchmark but 14 bps over the yield at the previous auction of the bonds four weeks earlier.
The ÁKK sold HUF 18 bln of three-year bonds, as planned. Bids came to HUF 34.2 bln. The average yield was 1.56%, 2 bps over the benchmark and 16 bps higher than the yield at the previous auction two weeks earlier.
The ÁKK sold HUF 15 bln of five-year bonds, in line with the original offer. Bids reached HUF 33.6 bln. The average yield was 2.22%, level with the benchmark but 13 bps over the yield at the previous auction two weeks earlier.
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