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ÁKK sells HUF 69 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 69 billion of bonds at auction on Thursday, raising its original offer by HUF 21 bln on strong demand from primary dealers, state news wire MTI reported.   

The ÁKK sold HUF 30.0 bln of three-year bonds, HUF 10.0 bln over the original offer. Primary dealers bid for HUF 72.84 bln of the securities. The average yield was 1.47%, 7 basis points under the secondary market benchmark, and 17 bps under the yield at the previous auction of the bonds.

The ÁKK also sold HUF 30.0 bln of five-year bonds, raising its offer by HUF 10.0 bln after dealersʼ bids came to HUF 64.23 bln. The average yield was 2.83%, 9 bps under the benchmark, and 21 bps under the yield at the previous auction. 

Finally, the ÁKK sold HUF 9 bln of 15-year bonds, HUF 1 bln more than planned. Bids reached HUF 11.86 bln, and the average yield was 4.08%, 3 bps under the benchmark, but 11 bps higher than the yield at the previous auction.

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