ÁKK Sells HUF 60 bln of Bonds at Auction, Double Original Offer
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The Government Debt Management Agency (ÁKK) sold HUF 60 billion of bonds at auction on Thursday, doubling its original offer on strong demand, according to a report by state news wire MTI.
ÁKK sold HUF 10 bln of three-year bonds, as planned. Primary dealers bid for HUF 24.8 bln of the securities. The average yield was 8.18%, 7 bp under the secondary market benchmark yield and 27 bp lower than the yield at the previous auction of the bonds two weeks earlier.
The company sold HUF 31.5 bln of five-year bonds, raising its original offer by HUF 21.5 bln after bids reached HUF 50.1 bln. The average yield was 7.19%, 7 bp under the benchmark, and 50 bp lower than the yield at the auction two weeks earlier.
ÁKK sold HUF 18.5 bln of 10-year bonds, HUF 8.5 bln more than planned. Bids came to HUF 41.6 bln. The average yield was 7.22%, 2 bp under the benchmark and 12 bp lower than the yield two weeks earlier.
The agency sold a further HUF 3.5 bln of the three-year, HUF 12.2 bln of the five-year, and HUF 7 bkn of the ten-year bonds at a non-competitive tender after the auction.
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