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ÁKK raises offers on strong demand at bond auction

The Government Debt Management Agency (ÁKK) raised its offers for the shorter terms on strong demand at a bond auction.

ÁKK sold HUF 30 billion of three-year 2014/D bonds, raising its original offer by HUF 10 billion after primary dealers submitted bids of HUF 94.7 billion. Average yield was 6.99%, 3 bp over the secondary market benchmark. Yields ranged between 6.98% and 7.00%.

ÁKK sold HUF 22.5 billion of five-year 2017/B bonds, HUF 7.5 billion more than planned. Bids for the bonds came to HUF 79.9 billion. Average yield was 7.39%, 15bp over the secondary market benchmark. Yields ranged between 7.38% and 7.40%.

ÁKK sold HUF 10 billion of 15-year 2028/A bonds, in line with the original offer. Dealers bid to buy HUF 18.0 billion of the bonds. Average yield was 7.55%, 6bp over the secondary market benchmark. Yields ranged between 7.52% and 7.57%.

At a non-competitive tender after the auction, ÁKK sold a further HUF 9.7 billion of the three-year bonds, HUF 8.2 billion of the five-year bonds and HUF 3.1 billion of the 15-year bonds.