AKK Sells HUF 140 billion of Bonds at Auction

Hungary's Government Debt Management Agency (AKK) sold HUF 140.0 billion of bonds at auction on Thursday, HUF 95.0 billion more than planned, MTI reported this Thursday.

AKK sold HUF 20.0 billion of three-year bonds, doubling its original offer after primary dealers bid for HUF 49.4 billion of the securities. Average yield was 6.41%, 3bp under the secondary market benchmark yield and 1bp lower than the yield at the previous auction of the bonds two weeks earlier.

AKK sold HUF 70.0 billion of five-year bonds, more than triple the HUF 20.0 billion offer. Bids reached HUF 145.8 billion. Average yield was 6.38%, 5bp under the benchmark and 18bp lower than the yield two weeks earlier.

AKK sold HUF 50.0 billion of ten-year bonds, more than triple the HUF 15.0 billion offer. Bids came to HUF 99.9 billion. Average yield was 6.77%, 6bp under the benchmark and 1p lower than the yield at the previous auction held a week earlier.