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ÁKK Sells HUF 50 bln of Bonds at Auction, Over Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 50 billion of bonds at auction on Thursday, HUF 20 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 15 bln of three-year bonds, raising its original offer by HUF 5 bln after primary dealers bid for HUF 40.8 bln of the securities. Average yield was 7.2%, 7 bp under the secondary market benchmark yield, but 41 bp over the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 15 bln of five-year bonds, HUF 5 bln over the plan. Bid came to HUF 40.6 bln. Average yield was 7.15%, 7 bp under the benchmark, but 38 bp over the yield at the auction two weeks earlier.

ÁKK sold HUF 20 bln of 10-year bonds, double the plan. Bids reached HUF 49.6 bln. Average yield was 7.07%, 8 bp under the benchmark, but 27 bp over the yield two weeks earlier.

The agency sold a further HUF 2.6 bln of the three-year, HUF 3.6 bln of the five-year, and HUF 4.1 bln of the 10-year bonds at a non-competitive tender after the auction. 

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