ÁKK sells HUF 67 bln of bonds at auction, over plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 67 billion of bonds at auction on Thursday, HUF 17 bln more than planned, state news agency MTI reported.

The ÁKK sold HUF 30 bln of three-year bonds, up HUF 10 bln from the original offer. Primary dealers bid for HUF 71.2 bln of the securities. The average yield was 1.76%, 4 basis points under the secondary market benchmark but 3 bps higher than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 30 bln of five-year bonds, likewise HUF 10 bln over the plan, after bids came to HUF 52.7 bln. The average yield was 2.96%, 6 bps under the benchmark and 2 bps lower than the yield at the auction two weeks earlier.

In addition, the ÁKK sold HUF 7 bln of 15-year bonds, cutting its original offer by HUF 3 bln after dealersʼ bids reached HUF 10.4 bln. The average yield was 3.97%, equal to the benchmark and 14 bps higher than the yield on August 8, when the 15-year bonds expiring in November 2038 were last auctioned.

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