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ÁKK Sells HUF 95.5 bln of Bonds at Auction, Over Plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 95.5 billion of bonds at auction on Thursday, HUF 35.5 bln more than planned, according to a report by state news wire MTI.

ÁKK sold HUF 34 bln of three-year bonds, raising its original offer by HUF 9 bln. Primary dealers bid for HUF 55.1 bln of the securities. The average yield was 9.37%, 28 bp under the secondary market benchmark yield, and 8 bp lower than the yield at the previous auction of the bonds two weeks earlier.

The agency sold HUF 35 bln of five-year bonds, HUF 15 bln more than planned. Bids reached HUF 72.4 bln. The average yield was 8.29%, 32 bp under the secondary market benchmark but 12 bp higher than the yield at the bond auction two weeks earlier.

ÁKK sold HUF 26.5 bln of 10-year bonds, HUF 11.5 bln over the plan. Bids came to HUF 58.1 bln. The average yield was 7.67%, 31 bp under the benchmark but 24 bp higher than the yield two weeks earlier.

The agency sold a further HUF 10.9 bln of the three-year, HUF 13.4 bln of the five-year, and HUF 9.8 bln of the 10-year bonds at a non-competitive tender after the auction.

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