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ÁKK sells HUF 53 bln of bonds at auction, over plan

Debt

Hungary’s Government Debt Management Agency (ÁKK) sold a combined HUF 53 bln of bonds at auction today, raising its original offer by HUF 8 bln on healthy demand., Hungarian news agency MTI reported.

Demand fell from the previous auction on July 21 but was still high for the two shorter terms where yields fell. The ten-year bonds were moderately oversubscribed and the yield slightly dropped from the July 21 but rose from Wendesdayʼs benchmark. 

ÁKK sold HUF 23.5 bln of three-year bonds, HUF 3.5 bln more than planned. Dealers bid for HUF 39 bln of the papers. Average yield was 1.41%, 2 bps under the secondary market benchmark and 1 bps lower than the yield at the previous auction of the bonds. 

ÁKK sold HUF 19.5 bln of five-year bonds, HUF 4.5 bln over the plan. Bids came to HUF 34.7 bln. Average yield was 1.99%, 2 bps under the benchmark 8 bps under the average yield at the auction two weeks earlier. 

ÁKK sold the planned HUF 10 bln of ten-year bonds after receiving bids for HUF 13.5 bln. Average yield was 2.93%, 1 bps over the benchmark and 1 bps lower than the yield two weeks earlier.

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