ÁKK Sells HUF 55 bln of Bonds at Auction, Over Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 55 billion of bonds at auction on Thursday, HUF 30 bln over the plan, state news wire MTI reports.

ÁKK sold HUF 28.5 bln of five-year bonds, raising its original over by HUF 18.5 bln after primary dealers bid for HUF 56.3 bln of the securities. The average yield was 12.22%, 8 bp over the secondary market benchmark and 173 bp higher than the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 21.5 bln of 10-year bonds, HUF 11.5 bln more than planned. Bids reached HUF 58.4 bln. The average yield was 10.67%, 6 bp over the benchmark and 84bp higher than the yield at the bond auction two weeks earlier.

ÁKK sold HUF 5 billion of 15-year bonds, in line with the original offer. Bids came to HUF 24.9 bln. The average yield was 9.83%, level with the benchmark and 107 bp higher than the yield at the previous auction of the bonds four weeks earlier.

The agency sold an additional HUF 10.8 bln of the five-year and HUF 7.9 bln of the 10-year bonds at a non-competitive tender after the auction.

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