ÁKK sells HUF 54 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a total of HUF 54 billion of bonds at auction on Thursday, raising its original offer by HUF 4 bln on strong demand for the shortest term, state news agency MTI reported.   

The ÁKK sold HUF 25.0 bln of three-year bonds, raising its original offer by HUF 5 bln after primary dealers submitted HUF 67.4 bln of bids. The average yield was 0.58%, 1 basis point under the secondary market benchmark, but 1 bp over the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 20.0 bln of five-year bonds, as planned. Bids came to HUF 32.4 bln. The average yield was 1.07%, 2 bps under the benchmark, but 3 bps over the yield at the auction two weeks earlier.   

The ÁKK cut its offer for 15-year bonds by HUF 1 bln to HUF 9.0 bln after dealers bid just HUF 14.8 bln for the papers. The average yield was 2.80%, 1 bp over the benchmark, but 48 bps under the yield at the previous auction of the bonds in mid-October.

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