Are you sure?

ÁKK sells HUF 30.5 bln of securities at auction, below plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 30.5 billion of securities at auction on Thursday, less than the original planned amount as its offer of five-year floaters was undersubscribed, state news wire MTI reported.   

The ÁKK sold HUF 25 bln of discount 12-month T-bills, as planned, after primary dealers bid for HUF 48.0 bln of the securities. The average yield was 0.23%, 3 basis points higher than the yield at the previous auction of the bills two weeks earlier and the latest secondary market benchmark.

The ÁKK also sold HUF 5.5 bln of five-year floating-rate bonds, lowering its original offer by HUF 4.5 bln after bids came to just HUF 7.9 bln. The average price dropped to 98.41%, from 98.48% at the previous auction of the floaters on April 18.