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ÁKK auctions HUF 39 bln of securities, over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 39.0 billion of securities at auction on Thursday, raising its original offer by HUF 3.0 bln on strong demand for a floating-rate bond, state news wire MTI reported.

The ÁKK sold HUF 30.0 bln of discount 12-month T-bills, in line with the original offer. Primary dealers bid for HUF 33.7 bln of the papers, and the average yield was 0.41%, 17 basis points over the secondary market benchmark and 8 bps higher than the yield at the previous auction of the bills two weeks earlier.

The ÁKK also sold HUF 9.0 bln of five-year floating-rate bonds, raising its offer by HUF 3.0 bln after bids came to HUF 12.4 bln.