ÁKK sells HUF 80 bln of bonds at auction, over plan
The Government Debt Management Agency (ÁKK) sold a total of HUF 80.0 billion of bonds at auction on Thursday, raising its original offer by HUF 15 bln on strong demand from primary dealers, state news agency MTI reported.
The ÁKK sold HUF 25.0 bln of three-year bonds, in line with the original offer. Dealers bid for HUF 29.5 bln of the papers. The average yield was 0.90%, 35 basis points over the yield on the secondary market benchmark, which matures more than six months earlier, and 4 bps higher than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK also sold HUF 33.0 bln of five-year bonds, raising its original offer by HUF 8.0 bln after bids came to HUF 71.1 bln. The average yield was 1.42%, 2 bps over the benchmark and 8 bps higher than the yield at the auction two weeks earlier.
Finally, the ÁKK sold HUF 22.0 bln of ten-year bonds, HUF 7.0 bln more than planned, after bids reached HUF 58.1 bln. The average yield was 2.50%, 1 bp over the benchmark and 57 bps higher than the yield at the previous auction of the bonds four weeks earlier.
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