ÁKK sells HUF 52.5 bln of securities at auction, over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 52.5 billion of securities at auction last Thursday, raising its original offer by HUF 17.5 bln, state news wire MTI reported.
The ÁKK sold HUF 45 bln of 12-month discount T-bills expiring on July 31, 2019, HUF 15 bln over its original offer of HUF 30 bln. Bids came to HUF 86 bln, with an average yield of 0.52%, 3 basis points over the secondary market benchmark, calculated on a bill series expiring on May 22, 2019, and 4 bps lower than the yield at the previous auction of the bills two weeks earlier.
The ÁKK also sold HUF 7.5 bln of five-year floating-rate bonds, HUF 2.5 bln more than originally offered. Dealers bid for HUF 22.7 bln of the papers. The average price came to 97.49%, up from 97.35% two weeks earlier.
The ÁKK also sold a further HUF 2.6 bln of five-year floaters at a non-competitive tender after the auction.
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