Demand for Hungary's three-month discount T-bills eases at primary auction.

By bne IntelliNews July 31, 2013

Hungary's state debt manager AKK sold HUF 50bn (EUR 167.1mn) of three-month discount Treasury bills at an auction on July 31, in line with the initial offer, AKK said.

Investors submitted bids worth HUF 82.9bn providing a relatively weak coverage ratio over the original supply. Demand dropped from HUF 134bn at the previous auction held a week earlier, when AKK raised the announced volume of by HUF 10bn.

The average yield at the latest auction reached 3.97%, down by 5bps from the previous tender but 4bps over the secondary benchmark fixing. The range of yields widened and varied between 3.90% and 4.05%.

Related Articles

Hungarian retail investors continue to pile into domestic government bonds

The stock of government bonds held by households rose by HUF154bn (€500mn) September to an all-time high of HUF6.5 trillion, Hungary’s Government Debt Management Agency (AKK) said on October 16. ... more

Hungary to issue euro bonds after six years

Hungary’s Government Debt Management Agency AKK announced on September 26 that it plans to issue 10-year Eurobonds to refinance high-interest dollar bonds maturing soon. The agency mandated BNP ... more

South Africa’s NEPI acquires shopping malls in Hungary, Bulgaria for €528mn

South African fund NEPI Rockastle said it has acquired two new shopping centres – in Hungary and Bulgaria – for a combined €528mn. The fund, which purchased another shopping centre in ... more