ÁKK sells HUF 66.5 bln of bonds, over plan

Debt

Hungaryʼs Government Debt Management Agency (ÁKK) sold a combined HUF 66.5 bln of bonds at auction today, raising its original offer by HUF 21.5 bln on strong demand by dealers, Hungarian news agency MTI.

ÁKK sold HUF 30.0 bln of three-year bonds, HUF 10 bln more than the original offer. Primary dealers bid for HUF 61.2 bln of the papers. Average yield was 1.36%, 1 bps under the secondary market benchmark and 5 bps lower than the yield 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. Bids came to HUF 59.9 bln. Average yield was 1.89%, 3 bps under the benchmark and 10 bps lower than the yield at the auction two weeks earlier.

ÁKK sold HUF 14.0 bln of 15-year bonds, HUF 4 bln more than the original offer. Bids reached HUF 19.9 bln. Average yield was 3.12%, 5 bps over the benchmark, but 29 bps under the yield at the last auction of the bonds late in June.

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