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ÁKK sells HUF 64 bln of bonds, HUF 9 bln more than planned

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 64 bln of bonds at auction on Thursday, raising its original offer by HUF 9 bln on strong demand for the five-year term.

ÁKK sold HUF 20 bln of three-year bonds, as planned. Primary dealers bid for HUF 35.6 bln of the papers. Average yield was 2.23%, 14 bp under the secondary market benchmark but 12 bp over the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 2.18% and 2.25%.

ÁKK sold HUF 29 bln of the five-year bonds, raising its offer by HUF 9 bln after dealers bids came to HUF 50.6 bln. Average yield was 2.72%, 15 bp under the secondary market benchmark but 25 bp over the yield at the auction two weeks earlier. Yields ranged between 2.70% and 2.74%.

ÁKK sold HUF 15 bln of ten-year bonds, in line with the original offer. Bids came to HUF 21.3 bln. Average yield was 3.24%, 13 bp under the benchmark but 38 bp over the yield at the previous auction. Yields ranged between 3.20% and 3.27%.

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