Hungary cuts offer of long-term bonds at latest auction, yields mixed.
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.
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
Most Read
-
Poland rises, Croatia surprises on CEE Fast 50
23 hours ago
-
KRUK REPORT: Is Ukraine changing its Donbas policies?
4 days ago
-
Putin aide: Bringing Azerbaijan under Kremlin's influence would solve Nagorno-Karabakh conflict
1 day ago
-
Russia's trade with China up 22% to $61bn
2 days ago
-
Romania’s “red cardinal” challenged but not sidelined
20 hours ago
-
Moldova's Ascom moves ahead with recovering $500mn from Kazakh state
8 days ago
-
INTERVIEW: The quiet thunder of Ruben Vardanian
9 days ago
-
KRUK REPORT: Is Ukraine changing its Donbas policies?
4 days ago
-
INTERVIEW: de Villepin says Ukraine should declare itself neutral
9 days ago
-
MOSCOW BLOG: Russia’s import substitution has not been a great success
7 days ago
-
STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
27 days ago
-
Russia to bring in record breaking harvest of 127mn tonnes
19 days ago
-
Investors ask which Russian bank domino will be the next to topple
24 days ago
-
Eastern Europe’s blockchain revolution
12 days ago
-
INTERVIEW: de Villepin says Ukraine should declare itself neutral
9 days ago
Selected articles from our premium news/views
wire
IntelliNews
Pro
IntelliNews- Dutch investment group acquires Georgia's third largest bank from local venture
- Poland supports Turkey’s near-dead EU membership bid
- Kosovan MP arrested over suspected visa scam
- Shell again eyes oil, gas exploration in Bosnia
- Hungarian retail investors continue to pile into domestic government bonds
- More from IntelliNews Pro