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ÁKK sells HUF 56 bln of bonds at auction, HUF 5 bln over original offer

Debt

The Government Debt Management Centre (ÁKK) sold a combined HUF 56 bln of bonds at auction on Thursday, HUF 5 bln more than planned on strong demand.

ÁKK raised its offer for three-year bonds by HUF 2 bln to HUF 20 bln after primary dealers bid for HUF 40.7 bln of the securities. Average yield was 2.11%, 4 bp under the secondary market benchmark but 1 bp over the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 2.07% and 2.12%.

ÁKK sold HUF 18 bln of five-year bonds, as planned. Offers came to HUF 33.2 bln. Average yield was 2.64%, 1 bp under the benchmark but 3 bp over the yield at the auction two weeks earlier. Yields ranged between 2.62% and 2.65%.

ÁKK sold HUF 18 bln of ten-year bonds, HUF 3 bln more than planned. Bids reached HUF 31.9 bln. Average yield was 3.28%, 5 bp under the benchmark and 1 bp lower than the yield two weeks earlier. Yields ranged between 3.25% and 3.29%.

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