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ÁKK sells HUF 33.5 bln of securities at auction, below plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 33.5 billion of securities at auction on Thursday, lowering its original offer by HUF 1.5 bln, state news wire MTI reported.   

The ÁKK sold HUF 28.5 bln of 12-month discount T-bills expiring on May 22, 2019, HUF 1.5 bln below its original offer of HUF 30 bln. Bids came to HUF 35.6 bln, and the average yield was 0.56%, 3 basis points over the secondary market benchmark, calculated on the same bill series, and 2 bps higher than the yield at the previous auction of the bills two weeks earlier.

In addition, the ÁKK sold HUF 5 bln of five-year floating-rate bonds, in line with its offer. Dealers bid for HUF 11.3 bln of the papers. The average price came to 97.35%, down from 97.30% two weeks earlier.