AKK sells more-than-planned twelve-month T-bills, floaters at auction
The Government Debt Management Agency (AKK) raised the sale of discount twelve-month T-bills as high demand continued and also sold more than planned floating-rate bonds at an auction on Thursday.
AKK sold HUF 60 billion of the twelve-month T-bills, raising its original offer by HUF 15 billion. Primary dealers submitted bids for HUF 150 billion.
The pattern was similar at the previous twelve-month bill auction on August 16 when AKK also raised its sales by HUF 15 billion to HUF 60 billion on unusually high oversubscription of HUF 134 billion.
Average yield at the auction was 6.79%, 1bp under the secondary market benchmark and 15bp under the yield on August 16. Yields ranged between 6.71% and 6.82%.
AKK sold HUF 6.0 billion of the floaters, HUF 1bn more than the announced amount. Offers came to HUF 12.8 billion for the bonds expiring on December 22, 2015, down from HUF 19.5 billion at the previous auction held on August 2. The average price rose, to 96.86% from 96.69% four weeks earlier.
ADVERTISEMENT
Budapest Stock Exchange Profit Climbs 51% in Q1-Q3
Hungarian-American Business Chamber Established in Chicago
Number of Registered Jobseekers Down 3% in November
Mulled Version of Belle-Vue Kriek Makes Debut at Advent Fair
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
