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ÁKK sells HUF 72.5 bln of bonds at auction, over plan

The Government Debt Management Agency (ÁKK) sold HUF 72.5 billion of bonds at auction on Thursday, raising its original offer by HUF 17.5 bln on strong demand from primary dealers, state news wire MTI reported.

The ÁKK sold HUF 20.0 bln of three-year bonds, in line with its original offer. Primary dealers bid for HUF 27.0 bln of the securities, and the average yield was 1.64%, 6 basis points over the secondary market benchmark, but 5 bps under 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 10.0 bln after dealersʼ bids came to HUF 52.2 bln. The average yield was 3.04%, 7 bps over the benchmark, but 8 bps under the yield at the previous auction. 

Finally, the ÁKK sold HUF 22.5 bln of ten-year bonds, HUF 7.5 bln more than planned. Bids reached HUF 41.6 bln. The average yield was 3.63%, 8 bps over the benchmark, but 11 bps lower than the yield two weeks earlier.