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ÁKK sells HUF 66 bln of bonds at auction, slightly more than planned

Debt

The Government Debt Management Agency (ÁKK) sold HUF 66 bln of bonds at an auction on Thursday, HUF 1 bln more than planned, Hungarian news agency MTI reported it.

ÁKK sold HUF 20 bln of three-year bonds, cutting its original offer by HUF 5 bln after primary dealers bid for just HUF 22.5 bln. Average yield was 3.02%, 2bp under the secondary market benchmark but 3bp over the yield at the previous auction of the bonds two weeks earlier. Yields ranged between 2.98% and 3.08%.

ÁKK sold HUF 33.5 bln of five-year bonds, HUF 8.5 bln more than planned. Bids came to HUF 93.1 bln. Average yield was 3.31%, 3bp under the benchmark, but 8bp over the yield at the previous bond auction. Yields ranged between 3.28% and 3.34%.

ÁKK sold HUF 12.5 bln of ten-year bonds, HUF 2.5 bln under the original offer. Dealers bid for HUF 14.7 bln of the papers. Average yield was 4.20%, 5bp over the benchmark but 3bp under the yield two weeks earlier. Yields ranged between 4.12% and 4.25%.

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