ÁKK sells HUF 60 bln of bonds, HUF 13 bln over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 60 billion of bonds at auction on Thursday, raising its original offer by HUF 13 bln on strong demand for the longer terms, according to state news agency MTI.
The ÁKK sold HUF 12.0 bln of three-year bonds, cutting its original offer by HUF 3 bln after primary dealers bid for just HUF 15.4 bln of the papers. The average yield was 0.49%, 10 bps over the secondary market benchmark but 6 bps lower than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK also sold HUF 30.0 bln of five-year bonds, raising its offer by HUF 10 bln after bids reached HUF 56.1 bln. The average yield was 1.20%, 4 bps over the benchmark but 22 bps lower than the yield two weeks earlier.
Finally, the agency sold HUF 18.0 bln of ten-year bonds, HUF 6 bln more than planned, as bids came to HUF 35.4 bln. The average yield was 2.56%, 7 bps over the benchmark, but 29 bps under the yield at the previous auction.
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