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ÁKK sells HUF 90 bln of bonds at auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 90.0 billion of bonds at auction on Thursday, HUF 25.0 bln over the original offer on strong demand from primary dealers, state news agency MTI reported.   

The ÁKK sold HUF 30.0 bln of three-year bonds, raising its original offer by HUF 10.0 bln after dealersʼ bids came to HUF 75.7 bln. The average yield was 1.03%, 2 basis points under the secondary market benchmark and 13 bps lower than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 30.0 bln of five-year bonds, HUF 5.0 bln over plan, after bids came to HUF 67.3 bln. The average yield was 2.23%, 2 bps over the benchmark, but 2 bps under the yield at the bond auction two weeks earlier. 

Finally, the ÁKK sold HUF 30.0 bln of ten-year bonds, HUF 10.0 bln more than planned. Dealers offered to buy HUF 78.6 bln. The average yield was 3.14%.

The ÁKK offered the 2030/A bond for the first time. It matures almost three years later than the ten-year benchmark 2027/A bond, for which the yield was 2.69% on Thursday.

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