ÁKK sells HUF 90.5 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 90.5 billion of government bonds at auction on Thursday, raising its original offer by HUF 20.5 bln on strong demand from primary dealers.   

The ÁKK sold HUF 29.0 bln of three-year bonds, raising its original offer by HUF 4.0 bln, state news wire MTI reported. Bids came to HUF 42.07 bln, with an average yield of 0.90%, 2 basis points over the secondary market benchmark and 16 bps higher than 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 reached HUF 62.80 bln, while the average yield was 1.42%, 3 bps under the benchmark but 13 bps higher than the yield at the previous bond auction two weeks earlier. 

Finally, the ÁKK sold HUF 28.0 bln of ten-year bonds, HUF 8.0 bln more than planned, after dealers bid for HUF 41.60 bln of the papers. The average yield was 2.71%, 1 bp under the benchmark but 17 bps higher than two weeks earlier.

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