ÁKK sells HUF 55 bln of bonds at auction, more than planned

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 55 bln of bonds at auction on Thursday, HUF 5 bln more than planned.

ÁKK raised its offer for the shortest term on strong demand, but sold fewer of the longest term.

ÁKK sold HUF 30 bln of the three-year bonds, raising its original offer by HUF 10 bln after primary dealers bid for HUF 121.0 bln of the papers. Average yield was 1.89%, 2 bps over the secondary market benchmark and 10 bps higher than the yield at the previous auction of the bonds two weeks earlier.

ÁKK sold HUF 20 bln of five-year bonds, as planned. Bids came to HUF 44.3 bln. Average yield was 2.54%, 1 bps under the benchmark but 15 bps over the yield two weeks earlier.

ÁKK sold HUF 5 bln of the 15-year bonds, half of the original offer. Bids reached just HUF 13.2 bln. Average yield was 3.92%, 7 bps over the benchmark but 9 bps under the yield at the previous auction of the bonds early in September. 

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