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ÁKK sells more than planned bonds at dropping yields at auction

Debt

The Government Debt Management Agency (ÁKK) sold HUF 69.5 bln of bonds at auction today, raising its original offer by HUF 17.5 bln on strong demand by primary dealers, Hungarian news agency MTI reported. Yields fell over the board.

ÁKK sold HUF 30 bln of three-year bonds, HUF 10 bln more than planned. Bids came to HUF 80.92 bln, over the HUF 73.83 bln bids at the previous auction on March 17. 

Average yield was 1.48%, 3 bps under Wednesdayʼs three-year secondary market benchmark and 22 bps under the yield at the previous auction.

ÁKK sold HUF 25 bln of five-year bonds, raising its original offer by HUF 5 bln after dealers bid for HUF 33.05 bln, less than on March 17.

Average yield was 2.03%, 2 bps over the secondary benchmark and 11 bps under the yield at the previous auction.

ÁKK sold HUF 14.5 bln of ten-year bonds, HUF 2.5 bln over the plan. Bids reached HUF 29.46 bln, slightly down from the March 17 auction.

Average yield was 2.94%, 4 bps over the benchmark and 14 bps lower than the yield at the previous ten-year bond auction.

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