ÁKK sells HUF 82.5 bln of bonds at auction, over plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 82.5 billion of bonds at auction on Thursday, HUF 27.5 bln more than planned, state news wire MTI reported.
Demand was high compared to the offers and the debt manager accepted oversubscription on all three terms. Average auction yields rose compared to the previous auction, but were under the latest benchmarks.
The ÁKK sold HUF 30 bln of three-year bonds, up HUF 10 bln from the original offer. Primary dealers bid for HUF 56.6 bln of the securities, and the average yield was 1.84%, 5 basis points under the secondary market benchmark, but 8 bps higher than the yield at the previous auction of the bonds two weeks earlier.
The ÁKK also sold HUF 30 bln of five-year bonds, likewise HUF 10 bln over plan, after bids came to HUF 83.9 bln. The average yield was 3.27%, 4 bps under the benchmark, and 31 bps lower than the yield at the auction two weeks earlier.
Finally, the ÁKK sold HUF 22.5 bln of ten-year bonds, raising its offer by HUF 7.5 bln after dealersʼ bids reached HUF 53.4 bln. The average yield was 3.87%, 4 bps below the benchmark, but 29 bps higher than the yield at the last auction of ten-year bonds four weeks earlier.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
