ÁKK sells HUF 47.5 bln of bonds
The Government Debt Management Agency (ÁKK) sold a combined HUF 47.5 billion of bonds at auction on Thursday, raising its original offer of five-year bonds by HUF 7.5 bln.
Demand was more than fourfold for the five-year bonds, the average yield of which was down from the respective secondary market benchmark, but the three and ten-year yields rose slightly.
The ÁKK sold the planned HUF 15 bln of three-year bonds as primary dealers bid to buy HUF 22.5 bln of the securities. The average yield was 0.69%, up 1 bp from the secondary benchmark, but 13 bps lower than the yield at the previous auction of the bonds held on August 17.
The ÁKK also sold HUF 22.5 bln of five-year bonds after dealers bid to buy HUF 69.2 bln. The average yield was 1.61%, 6 bps under the secondary market benchmark and 19 bps lower than the yield at the previous auction of the bonds two weeks earlier.
In addition, the ÁKK sold HUF 10 bln of ten-year bonds, in line with plans. Bids came to HUF 19.9 bln. The average yield was 2.96%, 1 bp over the benchmark, but 14 bps lower than the yield at the previous auction of ten-year bonds on August 3.
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