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ÁKK bond auction sales exceed plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 64.0 billion of bonds at auction on Thursday, HUF 14.0 bln more than planned, state news wire MTI reported.

The ÁKK sold HUF 30.0 bln of five-year bonds, raising its original offer by HUF 10.0 bln after primary dealers bid for HUF 54.9 bln of the securities. The average yield was 0.96%, 1 basis point over the secondary market benchmark, and 2 bps higher than the yield at the previous auction of the bonds two weeks earlier.

The ÁKK also sold HUF 24.0 bln of ten-year bonds, HUF 4.0 bln more than planned. Bids came to HUF 31.7 bln, and the average yield was 1.87%, 3 bps over the benchmark, but 5 bps under the yield at the auction two weeks earlier.  

Finally, the ÁKK sold HUF 10.0 bln of 15-year bonds, as planned, after bids reached HUF 17.1 bln. The average yield was 2.57%, 5 bps over the benchmark, and 44 bps higher than the yield at the previous successful auction of the bonds at the end of August.