ÁKK sells HUF 55 bln of bonds at auction, more than planned
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.