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ÁKK sells HUF 40 bln of securities at auction, below plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 40.0 billion of securities at auction on Thursday, HUF 5 bln less than planned, state news agency MTI reported.

The ÁKK sold HUF 35.0 bln of discount 12-month T-bills, HUF 5 bln below the original offer. Primary dealers bid for HUF 53.5 bln of the papers. The average yield was 0.28%, 3 basis points over the secondary market benchmark and 4 bps higher than the yield at the previous auction of the bills two weeks earlier.

The ÁKK also sold HUF 5 bln of five-year floating rate bonds, as planned. Dealers bid for HUF 6.0 bln of the securities.