AKK sells HUF 70 bln in securities at auction
The Government Debt Management Agency (AKK) sold HUF 70 bln in government securities at auction yesterday, HUF 10 bln more than planned. AKK sold HUF 40 bln of discount 12-month T-bills, in line with the original offer.
Primary dealers bid for HUF 65.4 bln of the papers.
Average yield was 1.77%, 1bp under the secondary market benchmark and 9bp lower than the yield at the previous auction of the bills two weeks earlier. Yields ranged between 1.70% and 1.80%.
AKK also sold HUF 30 bln of floating rate bonds, raising its original offer by HUF 10 bln after dealers bid for HUF 71.6 bln.
At a non-competitive tender following the auction, AKK sold a further HUF 9.6 bln of the floaters. Offers at the tender came to HUF 11.2 bln.
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