ÁKK sells HUF 57 bln of bonds at auction, HUF 12 bln over plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 57 billion of bonds at auction on Thursday, HUF 12 bln more than planned because of strong demand by primary dealers, Hungarian news agency MTI reports.

ÁKK sold HUF 12 bln of three-year bonds, lowering its original offer by HUF 3.0bn. Primary dealers bid for HUF 19.2 bln of the securities. The average yield was 1.41%, 4 bp over the secondary market benchmark, and 5 bp higher than the yield at the previous auction of the bonds one week earlier.

The agency sold HUF 30 bln of five-year bonds, raising its original offer by HUF 10 bln after bids reached HUF 45.5 bln. The average yield was 1.5%, 5 bp over the benchmark, and 8 bp higher than the yield at the bond auction one week earlier.

ÁKK sold HUF 15 bln of ten-year bonds, HUF 5 bln over the plan. Bids came to HUF 26.3 bln. The average yield was 2.46%, 4 bp over the benchmark but 21 bp under the yield at the previous auction of the bonds two weeks earlier.

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