ÁKK sells HUF 73.5 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a total of HUF 73.5 billion of bonds at auction yesterday, raising its original offer by HUF 18.5 bln on strong demand, state news wire MTI reported.

The ÁKK sold HUF 25 bln of three-year bonds, HUF 5 bln over the original offer. Primary dealers bid for HUF 67.7 bln of the securities. The average yield was 1.16%, 2 basis points below the secondary market benchmark and 6 bps under 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 more than planned, after primary dealersʼ bids came to HUF 107 bln. The average yield was 2.25%, 9 bps under both the benchmark and the yield at the auction two weeks earlier.

Finally, the ÁKK sold HUF 15 bln of 15-year bonds, raising its original offer by HUF 5 bln. Bids reached HUF 27.3 bln, and the average yield was 3.77%, 4 bps under the benchmark and 31 bps lower than the yield at the previous auction on November 22.

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