Retail investor demand for Plus bonds still strong
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Retail investors subscribed for almost HUF 103 billion of Hungarian Government Securities Plus (MÁP Plusz) bonds in the sixth week since their launch at the beginning of June, show data released by the Government Debt Management Agency (ÁKK).
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Subscription was down from HUF 118 bln in the fifth week and HUF 132 bln in the fourth week, noted state news wire MTI.
In the first week the bonds were available to retail investors, subscription came to HUF 529 bln, a new record. Mid-way through the third week after the launch, the National Bank of Hungary (MNB) and the ÁKK took extraordinary measures to manage a liquidity squeeze in the banking sector as households tapped their savings to buy the new securities.
After the sixth week of subscription, the outstanding stock of the Plus bonds, which pay an annualized yield of 4.95% if held for the full five-year maturity, reached HUF 1.235 trillion.
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