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ÁKK Sells HUF 59.5 bln of Bonds at Auction, Over Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 59.5 billion of bonds at auction on Thursday, over the plan, according to a report by state news wire MTI.

ÁKK sold HUF 24.5 bln of three-year bonds, raising its original HUF 15 bln offer after primary dealers bid for HUF 49.6 bln of the securities. The average yield was 9.74%, level with the secondary market benchmark yield and 23 bp under the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 15 bln of five-year bonds, as planned. Bids reached HUF 43.8 bln. The average yield was 8.53%, 6 bp over the benchmark but 4 bp lower than the yield two weeks earlier.

ÁKK sold HUF 20 bln of 10-year bonds, double the plan. Bids came to HUF 47.4 bln. The average yield was 7.76%, 8 bp over the benchmark and 12 bp higher than the yield at the previous auction.

The agency sold a further HUF 7.7 bln of the three-year, HUF 5.8 bln of the five-year, and HUF 7.8 bln of the 10-year bonds at a non-competitive tender after the auction.

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