ÁKK sells HUF 72 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 72 billion of bonds at auction on Thursday, raising its original offer by HUF 15 bln on strong demand from primary dealers.

The ÁKK sold HUF 32.5 bln of three-year bonds, raising its original offer by HUF 7.5 bln. Bids came to HUF 52.9 bln, and the average yield was 1.14%, 3 basis points over the secondary market benchmark and 4 bps lower than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 33.5 bln of five-year bonds, HUF 8.5 bln over plan, after bids reached HUF 63.9 bln. The average yield was 1.65%, 3 bps over the benchmark but 9 bps lower than the yield at the bond auction two weeks earlier.

The ÁKK also sold HUF 6 bln of fifteen-year bonds, HUF 1 bln less than planned. Dealers bid for HUF 10.80 bln of the papers. The average yield was 3.96%, 8 bps over the benchmark and 70 bps higher than at the previous auction held on March 29.

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