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ÁKK sells HUF 67.5 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 67.5 billion of bonds at auction on Thursday, HUF 12.5 bln over the planned amount, state news wire MTI reported.

The ÁKK sold HUF 30.0 bln of three-year bonds, raising its original offer by HUF 10.0 bln on strong demand from primary dealers. Bids for the securities came to HUF 43.8 bln. The average yield was 1.72%, 4 basis points under the secondary market benchmark and 19 bps lower than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 17.5 bln of five-year bonds, HUF 2.5 bln under the original offer, after bids for the bonds came to just HUF 22.5 bln. The average yield was 2.70%, level with the benchmark and 17 bps under the yield two weeks earlier. 

Finally, the ÁKK sold HUF 20.0 bln of ten-year bonds, HUF 5.0 bln more than planned. Bids reached HUF 20.7 bln, and the average yield was 3.29%, 1 bp over the benchmark and 21 bps under the yield at the previous auction of the bonds.

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