ÁKK sells HUF 76 bln of bonds at auction, over plan

Debt

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The Government Debt Management Agency (ÁKK) sold a combined HUF 76 billion of bonds at auction on Thursday, HUF 11 bln more than planned, state news wire MTI reported.   

The ÁKK sold HUF 20.0 bln of three-year bonds, cutting its original offer by HUF 5.0 bln after primary dealers bid for just HUF 24.0 bln of the papers. The average yield was 1.18%, 2 basis points under the secondary market benchmark but 28 bps over 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 the plan. Bids came to HUF 87.9 bln, and the average yield was 1.74%, 9 bps under the benchmark but 32 bps over the yield at the auction two weeks earlier.   

Finally, the ÁKK sold HUF 22.5 bln of ten-year bonds, HUF 7.5 bln over the original offer. Dealersʼ bids came to HUF 46.8 bln, while the average yield was 3.11%, 11 bps under the benchmark but 40 bps higher than the yield at the previous auction of the securities.

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