ÁKK sells HUF 61.5 bln of bonds, slightly over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 61.5 billion of bonds at auction on Thursday, HUF 1.5 bln over the original offer as it cut sales of the new 15-year bonds and raised sales of five-year bonds, state news wire MTI reported.   

The ÁKK sold HUF 25.0 bln of the new three-year bonds, as planned. Primary dealers bid for HUF 40.8 bln of the papers. The average yield was 0.86%, 30 basis points over the benchmark, which matures more than six months earlier.

The ÁKK also sold HUF 30.0 bn of five-year bonds, raising its original offer by HUF 5.0 bln after bids reached HUF 43.3 bln. The average yield was 1.34%, 10 bps over the benchmark and 35 bps higher than the yield at the previous auction of the bonds two weeks earlier.

Finally, the ÁKK sold HUF 6.5 bln of the new 15-year bonds, under the HUF 10.0 bln offer, after bids came to only HUF 9.8 bln. The average yield was 3.43%, 70 bps over the benchmark which matures some seven years earlier.

In addition,the ÁKK sold an additional HUF 9.4 bln of three-year and HUF 10.7 bln of five-year bonds at a non-competitive tender after the auction.

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