ÁKK sells HUF 60 bln of bonds, HUF 13 bln over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 60 billion of bonds at auction on Thursday, raising its original offer by HUF 13 bln on strong demand for the longer terms, according to state news agency MTI.
The ÁKK sold HUF 12.0 bln of three-year bonds, cutting its original offer by HUF 3 bln after primary dealers bid for just HUF 15.4 bln of the papers. The average yield was 0.49%, 10 bps over the secondary market benchmark but 6 bps lower than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK also sold HUF 30.0 bln of five-year bonds, raising its offer by HUF 10 bln after bids reached HUF 56.1 bln. The average yield was 1.20%, 4 bps over the benchmark but 22 bps lower than the yield two weeks earlier.
Finally, the agency sold HUF 18.0 bln of ten-year bonds, HUF 6 bln more than planned, as bids came to HUF 35.4 bln. The average yield was 2.56%, 7 bps over the benchmark, but 29 bps under the yield at the previous auction.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.