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ÁKK sells HUF 58.5 bln of bonds at auction, above plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 58.8 billion of bonds at auction on Thursday, HUF 18.5 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 22.5 bln of five-year bonds, raising its original offer by HUF 7.5 bln after primary dealers bid for HUF 45.6 bln of the securities. The average yield was 2.91%, 4 bp under the secondary market benchmark but 38 bp over the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 21 bln of 10-year bonds, HUF 6 bln more than planned. Bids reached HUF 43 bln. The average yield was 3.5%, 3 bp under the benchmark and 45 bp higher than the yield at the auction two weeks earlier.

ÁKK sold HUF 15 bln of 20-year bonds, HUF 5 bln over the plan. Bids came to HUF 31 bln. The average yield was 3.99%, 5 bp under the benchmark and 43 bp over the yield at the previous auction of the bonds four weeks earlier.

The agency sold an additional HUF 6.3 bln of the five-year, HUF 5.8 bln of the 10-year, and HUF 3 bln of the 20-year bonds at a non-competitive tender after the auction.

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