ÁKK sells HUF 50.5 bln of bonds at auction, over plan
Hungary’s Government Debt Management Agency (ÁKK) sold a combined HUF 50.5 bln of bonds at auction today, raising its original offer from HUF 43 bln on strong demand, Hungarian news agency MTI reported.
The ÁKK sold HUF 18 bln of three-year bonds, in line with the original offer. Primary dealers bid for HUF 61.3 bln of the papers. The average yield was 1.40%, 1 bps under the secondary market benchmark but 7 bps over the yield at the previous auction of the bonds two weeks earlier.
The ÁKK sold HUF 22.5 bln of five-year bonds, raising its original offer by HUF 7.5 bln after bids came to HUF 78.2 bln. The average yield was 2.09%, 3 bps under the benchmark and 1 bps lower than at the auction two weeks earlier.
The ÁKK sold HUF 10 bln of 15-year bonds, as planned. Bids reached HUF 20.5 bln. The average yield was 3.96%, 2 bps over the benchmark and 67 bps higher than the yield at the previous auction of the bonds in October of last year.
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