ÁKK sells HUF 75 bln of bonds at auction, over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 75 billion of bonds at auction on Thursday, raising its original offer by HUF 25 bln on strong demand by primary dealers, state news wire MTI reported.
The ÁKK sold HUF 22.5 bln of three-year bonds, raising its original offer by HUF 7.5 bln after dealers bid for HUF 69.7 bln of the papers. The average yield was 0.50%, 2 basis points under the secondary market benchmark and 8 bps lower than the yield at the previous auction of the bonds early in December.
The ÁKK also sold HUF 30.0 bln of five-year bonds, HUF 10 bln more than planned. Bids came to HUF 53.4 bln. The average yield was 1.06%, 4 bps under the benchmark and 1 bp lower than the yield at the December auction.
Finally, the ÁKK sold HUF 22.5 bln of ten-year bonds, HUF 7.5 bln over plan. Bids reached HUF 56.4 bln. The average yield was 1.96%, 7 bps under the benchmark and 8 bps lower than the yield at the previous auction of the bonds late in November.
In addition, the ÁKK sold a further HUF 5.7 bln of three-year, HUF 11.4 bln of five-year and HUF 6.5 bln of ten-year bonds at a non-competitive tender after the auction.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.