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ÁKK sells HUF 65.5 bln of bonds auction, well over HUF 47 bln plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 65.5 bln of bonds at auction today, well over the planned HUF 47 bln as demand from primary dealers exceeded expectations.

ÁKK sold HUF 25 bln of three-year bonds, raising its original offer by HUF 5 bln after primary dealers bid for HUF 60.2 bln of the securities. Average yield was 2.24%, 5 bp under the secondary market benchmark and 24 bp lower than at the previous auction of the bonds two weeks earlier.

ÁKK sold HUF 22.5 bln of five-year bonds, HUF 7.5 bln more than planned. Offers came to HUF 101.3 bln. Average yield was 2.88%, 6 bp under the benchmark and 31 bp lower than the yield two weeks earlier.

ÁKK sold HUF 18 bln of ten-year bonds, HUF 6 bln more than planned. Bids reached HUF 56.7 bln. Average yield was 3.45 bp, 7 bp under the benchmark and 28 bp lower than the yield at the previous auction.

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