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ÁKK sells HUF 65 bln of securities at auction, above plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 65 billion of securities at auction on Thursday, HUF 10 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 20 bln of discount twelve-month T-bills, in line with its original offer. Primary dealers bid for HUF 81.9 bln of the securities. Average yield was 1.54%, 3 bp over the secondary market benchmark and 1 bp higher than the yield at the previous auction of the securities two weeks earlier.

The agency sold HUF 15 bln of eight-year floating-rate bonds, in line with its original offer, after dealers bid for HUF 51.4 bln of the securities.

ÁKK also sold HUF 30 bln of 20-year bonds, raising its original offer by HUF 10 bln, as bids came to HUF 62.2 bln. The average yield was 4.09%, 2 bp under the secondary market benchmark but 10 bp over the yield at the previous auction of the bonds one week earlier.

The agency sold an additional HUF 1.6 bln of the floaters and HUF 7.4 bln of the 20-year bonds at a non-competitive tender after the auction.

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