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ÁKK sells HUF 69.5 bln of bonds at auction, over plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 69.5 billion of bonds at auction on Thursday, raising its original offer by HUF 16.5 bln on strong demand from primary dealers, state news wire MTI reported.

The ÁKK sold HUF 30 bln of three-year bonds, raising its original offer by HUF 10 bln. Bids came to HUF 61.25 bln, with the average yield at 0.79%, 4 basis points below the secondary market benchmark, and 8 bps below the yield at the previous auction of the bonds. 

The ÁKK also sold HUF 33.5 bln of five-year bonds, raising its offer by HUF 8.5 bln, after dealers bid for HUF 49.60 bln of the papers. The average yield was 1.22%, 6 bps below the secondary market benchmark and 22 bps below the yield at the previous five-year auction.  

In addition, the ÁKK sold HUF 6 bln of nominally 15-year bonds which mature in 2038, HUF 2 bln below the original offer. Bids reached HUF 6.45 bln. The average yield was 3.26%, 39 bps over the yield on the benchmark 15-year bond which matures in 2031, and 17 bps lower than the yield at the previous auction.

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