ÁKK Sells HUF 66 bln of Bonds at Auction, Over Plan

Debt

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The Government Debt Management Agency (ÁKK) sold HUF 66 billion of bonds at auction on Thursday, more than double the planned HUF 30 bln, state news wire MTI reports.

ÁKK sold HUF 27.5 bln of three-year bonds, raising its original offer by HUF 17.5 bln after primary dealers bid for HUF 51.3 bln of the securities. The average yield was 8.96%, level with the secondary market benchmark yield but 9 bp over the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 22 bln of five-year bonds, HUF 12 bln more than planned. Bids came to HUF 36 bln. The average yield was 7.72%, 3 bp under the benchmark but 16 bp over the yield at the auction two weeks earlier.

The agency also sold HUF 16.5 bln of 10-year bonds, HUF 6.5 bln more than the plan. Bids reached HUF 37.2 bln. The average yield was 7.43%, 3 bp under the benchmark but 24 bp over the yield two weeks earlier.

ÁKK sold a further HUF 6.9 bln of the three-year, HUF 8.2 bln of the five-year, and HUF 6.1 bln of the 10-year bonds at a non-competitive tender after the auction.

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