ÁKK sells HUF 79.5 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 79.5 billion of bonds at auction on Thursday, raising its original offer by HUF 19.5 bln on strong demand from primary dealers, state news wire MTI reported.

The ÁKK sold HUF 26.5 bln of three-year bonds, HUF 6.5 bln over plan. Bids came to HUF 44.0 bln. The average yield was 0.87%, level with the secondary market benchmark, but 3 basis points 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, raising its offer by HUF 8.5 bln after dealers bid for HUF 75.5 bln of the papers. The average yield was 1.44%, the same as the secondary market benchmark and 2 bps over the yield two weeks earlier.

Finally, the ÁKK sold HUF 19.5 bln of ten-year bonds, HUF 4.5 bln over the original offer. Bids reached HUF 31.5 bln, and the average yield was 2.60%, 2 bps over the benchmark and 10 bps higher than the yield at the previous auction.

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