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ÁKK raises offer at twelve-month T-bill auction, cuts floating-rate bond offer

The Government Debt Management Agency (ÁKK) raised its offer on strong demand at an auction of twelve-month discount T-bills, but sold fewer than planned floating-rate five-year bonds.

ÁKK sold HUF 60 billion of the bills, HUF 10 billion more than planned. Primary dealers submitted bids for HUF 151.3 billion.

Average yield at the auction was 6.16%, 2 bp under the secondary market benchmark and 4 bp under the yield at the previous auction of the bills two weeks earlier. Yields varied between 6.14% and 6.17%.

ÁKK sold HUF 4 billion of floating-rate five-year bonds, cutting its original offer by HUF 1 billion after dealers bid for HUF 13.4 billion.

The 2015/B bonds, expiring on December 22, 2015, and paying interest pegged to 3-month discount T-bill auction yields and paid twice yearly, sold at an average price of 96.31%, below the 96.81% average at the previous auction of the bonds on December 9. (MTI – Econews)