ÁKK sells HUF 50 bln of bonds, over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 50 bln of bonds at auction today, raising its original offer by HUF 10 bln on strong demand for the five-year term, Hungarian news agency MTI reported.
The ÁKK sold HUF 15 bln of three-year bonds, as planned. Primary dealers bid for HUF 55.11 bln of the papers. The average yield was 0.77%, 4 bps under the secondary market benchmark and 1 bps lower than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK sold HUF 20 bln of five-year bonds, raising its offer by HUF 5 bln after dealersʼ bids came to HUF 71.40 bln. The average yield was 1.81%, 3 bps under the benchmark and 5 bps higher than the yield two weeks earlier.
The ÁKK also sold HUF 15 bln of 15-year bonds, raising its original offer by HUF 5 bln. Bids reached HUF 47.65 bln. The average yield was 3.62%, 3 bps under the benchmark and 17 bps lower than the yield at the previous auction which was held on March 30.
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