ÁKK Sells HUF 82.5 bln of Bonds at Auction, Above Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 82.5 billion of bonds at auction on Thursday, more than double the original plan, according to a report by state news wire MTI.

ÁKK sold HUF 27 bln of three-year bonds, raising its original offer by HUF 17 bln after primary dealers bid for HUF 60.6 bln of the securities. The average yield was 6.68%, 3 bp under the secondary market benchmark yield and 48 bp lower than the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 19.5 bln of five-year bonds, HUF 9.5 bln more than planned. Bids reached HUF 49.9 bln. The average yield was 6.57%, 4b p under the benchmark and 51 bp lower than the yield two weeks earlier.

ÁKK sold HUF 36 bln of 10-year bonds, raising its original offer by HUF 26 bln. Bids came to HUF 100.3 bln. Average yield was 6.57%, 6b p under the benchmark and 34 bp lower than the yield at the previous auction.

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