ÁKK sells HUF 50 bln of bonds at auction, HUF 5 bln over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 50 bln of bonds at auction on Thursday, raising its original offer by HUF 5 bln on strong demand from primary dealers, Hungarian news agency MTI reported.
The ÁKK sold HUF 20 bln of three-year bonds, raising its original offer by HUF 2 bln after dealers bid for HUF 51.9 bln of the papers. The average yield was 0.87%, 9 bps under the secondary market benchmark and 8 bps lower than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK sold HUF 16 bln of five-year bonds, HUF 1 bln over the plan. Bids came to HUF 42.3 bln. The average yield was 1.88%, 13 bps under the benchmark and 17 bps lower than the yield two weeks earlier.
The ÁKK sold HUF 14 bln of ten-year bonds, HUF 2 bln more than the original offer. Bids reached HUF 28.4 bln. The average yield was 3.06%, 9 bps under the benchmark and 17 bps lower than the yield at the previous auction.
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