The Hungarian state debt manger AKK sold a combined HUF 35bn (EUR 117mn) in three-, five- and 10-year fixed-rate bonds at an auction on August 8, cutting the initial offer by HUF 5bn on weak demand, the agency informed. Investors’ bids totalled HUF 55bn, slightly up from HUF 52.4bn at the previous auction held a couple of weeks ago.
AKK sold HUF 13bn worth of three-year bonds on August 8, down from HUF 18bn initially planned. The issue lured bids of HUF 17.5bn, providing a relatively weak coverage over the supply. Demand eased from HUF 24bn at the previous auction. The average yield at the latest auction reached 4.74%, up by 20bps from the previous tender and 3bpt over the benchmark fixing.
AKK sold the announced volume of HUF 13bn of five-year bonds. Demand dropped further to HUF 17.3bn from HUF 18.6bn at the previous auction. The yield averaged 5.21%, up by 24bps from the previous auction and 3bps over the secondary market benchmark.
The state debt authority placed the announced volume of HUF 9bn in 10-year bonds. Demand rose to HUF 20.2bn from HUF 9.8bn at the previous undersubscribed auction. The average yield stood at 6.16%, up by 26bps from the previous auction and 2bps above the secondary benchmark fixing.
Related Articles
Druzhba oil flow to Slovakia and Hungary is renewed
The oil flow from the Russian Druzhba pipeline was renewed late on August 19. “The flow of oil to Slovakia is standard at the moment,” the country’s Minister of Economy Denisa Saková (Hlas) ... more
US Westinghouse could develop electricity storage site near Slovak Gabčíkovo hydroelectric power plant
US power company Westinghouse is reportedly in talks with the Slovak government to develop a new type of electricity storage site near the Gabčíkovo hydroelectric power plant (HPP) on the Danube ... more
Viktor Orban hints at possible EU exit scenario in conversation with hard-right platform
Prime Minister Viktor Orban said Hungary's EU membership remains worthwhile for now, but there could come a time when this changes. "There could theoretically be a point when it's no longer worth ... more
Most Read
-
Renewable capacity growth is faster than ever, but more acceleration needed to meet Paris 2030 goal, says IEA
1 year ago
-
Kyrgyzstan abandons attempt to rescue Russian climber trapped on icy summit of country’s highest mountain
23 days ago
-
BERTRAND: China after Communism, preparing for a post-CCP China
1 month ago
-
Hungarian economy faces weak growth, slow path to price stability, central bank report shows
2 months ago
-
UKRAINE REMONT: The battle to build: signs of recovery in Ukraine's construction industry
5 months ago