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ÁKKʼs Thursday bond sales well over plan

The Government Debt Management Agency (ÁKK) sold a combined HUF 93.5 billion of bonds at auction on Thursday, raising its original offer by HUF 28.5 bln, state news wire MTI reported.

The ÁKK sold HUF 30.0 bln of three-year bonds, raising its original offer by HUF 10 bln. Dealers bid for HUF 60.45 bln of the securities. The average yield was 1.26%, 6 basis points below the secondary market benchmark yield and 24 bps below the yield at the previous auction of the bonds two weeks earlier. 

The ÁKK also sold HUF 33.5 bln of five-year bonds, raising its original offer by HUF 8.5 bln. Bids came to HUF 94.08 bln, and the average yield was 2.01%, 8 bps under the benchmark and 24 bps lower than the yield two weeks earlier.

Finally, the ÁKK sold HUF 30.0 bln of ten-year bonds, HUF 10.0 bln over the plan, after bids added up to HUF 63.95 bln. The average yield was 3.30%, 1 bp under the benchmark, but 7 bps over the yield at the previous auction.