The Hungarian state debt manger AKK sold a combined HUF 42bn (EUR 141.7mn) in three-, five- and 10-year fixed-rate bonds at an auction on July 25, cutting the initial offer by HUF 3bn on weak demand, the agency informed. Investors’ bids totalled HUF 52.4bn, down from HUF 116.1bn submitted at the previous auction held a couple of weeks ago.
AKK sold HUF 20bn worth of three-year bonds on July 25, in line with the initial offer. The issue lured bids of HUF 24bn, providing a relatively weak coverage over the initial supply. Demand eased from HUF 26.3n at the previous auction. The average yield at the latest auction reached 4.54%, down 3bps from the previous tender and 2bpt under the benchmark fixing.
AKK sold the announced volume of HUF 15bn of five-year bonds. Demand dropped to HUF 18.6bn from HUF 44.9bn at the previous auction. The yield averaged at 4.97%, up by 6bps from the previous auction but was 1bpt under the secondary market benchmark.
The state debt authority placed HUF 7bn in 10-year bonds, cutting the initial offer by HUF 3bn. The auction was undersubscribed as investors’ bids came at HUF 9.8bn. Demand eased from HUF 25.5bn at the previous tender. The average yield stood at 5.90%, up by 27bps from the previous auction and 5bps above the secondary benchmark fixing.
Despite its all-out attacks on the EU’s refugee quotas, Viktor Orban's government secretly gave permission for the admission of the same number of asylum seekers to the country in 2017 as ... more
President Janos Ader has set April 8 as the date of Hungary's general election, it was announced on January 11. This is the earliest possible Sunday that the ballot can be held under the law. The ... more
The Economy Ministry on January 10 asked the tax authority to delay collecting fines from opposition parties imposed by the state auditor ASZ to ensure that their pre-election budgets and campaign ... more