ÁKK sells HUF 75 bln of bonds at auction, HUF 25 bln over offer

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The Government Debt Management Agency (ÁKK) sold a combined HUF 75 bln of bonds at an auction today, raising its original offer by HUF 25 bln on strong demand, Hungarian news agency MTI reported.

ÁKK sold HUF 30 bln of three-year bonds, HUF 10 bln over the plan. Primary dealers bid for HUF 96.1 bln of the papers. Average yield was 1.48%, 6 bps under the secondary market benchmark and level with the yield at the previous auction of the bonds two weeks earlier.

ÁKK sold HUF 30 bln of five-year bonds, also HUF 10 bln more than planned. Bids came to HUF 98.4 bln. Average yield was 2.08%, 4 bps under the benchmark but 5 bps over the yield two week earlier.

ÁKK sold HUF 15 bln of 15-year bonds, raising its original offer by HUF 5 bln. Bids reached HUF 30.3 bln. Average yield was 3.25%, 3 bps under the benchmark and 41 bps lower than the yield at the previous auction of the bonds in mid-February.

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