ÁKK sells HUF 50 bln of bonds at auction, over plan
Hungary’s Government Debt Management Agency (ÁKK) sold a combined HUF 50 bln of bonds at auction today, raising its original offer by HUF 7 bln on strong demand, Hungarian news agency MTI reported.
The ÁKK sold HUF 25 bln of three-year bonds, HUF 7 bln more than planned. Primary dealers bid for HUF 110.02 bln of the papers. The average yield was 1.15%, 1 bp over the secondary market benchmark but 21 bps under the yield at the previous auction of the bonds two weeks earlier.
The ÁKK sold HUF 15 bln of five-year bonds, the same as the original offer. Bids came to HUF 45.37 bln. The average yield was 1.78%, 6 bps over the benchmark but 14 bps under the yield two weeks earlier.
The ÁKK sold HUF 10 bln of ten-year bonds, in line with the original offer. Bids reached HUF 17.61 bln. The average yield was 2.97%, 8 bps over the secondary market benchmark and 12 bps over the yield at the previous auction of the bonds on September 29.
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