Hungary raises bond offer at primary auction on strong demand, yields mixed.

By bne IntelliNews January 10, 2014

The Hungarian state debt manger AKK sold a combined HUF 62.5bn (EUR 208.2mn) in three-, five- and ten-year fixed-rate bonds at an auction on January 9, rising the initial offer by HUF 17.5bn on strong demand, the agency said in a statement. Investors’ bids totalled HUF 141.3bn, providing a healthy coverage ratio over the initial supply for all three types of issues.

AKK sold HUF 25bn worth of three-year bonds, up from HUF 5bn initially planned. The issue lured bids of HUF 50.2bn. Demand remained relatively unchanged from the previous auction. The average yield at the latest auction reached 4.32%, up by 23bps from the previous tender and 41bps over the secondary benchmark fixing.

The state debt authority raised the float by HUF 7.5bn for five-year bonds and sold a total of HUF 22.5bn. Demand rose to HUF 52.2bn from HUF 35.9bn at the previous auction. The average yield stood at 4.86%, which was 11bps over the secondary market benchmark but 9bps under than the yield at the previous tender.

AKK placed HUF 15bn in ten-year bonds, raising the float by HUF 5bn. Investors’ bids came in at HUF 38.9bn, up from HUF 36.5bn at the previous tender. The average yield increased by 16pps from the secondary benchmark fixing but dropped by 7bps from the previous auction.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

UniCredit sees modest growth and fiscal overshoot for Hungary in 2024

Hungary’s economic rebound will be modest this year, around 2%, and the return to potential growth is set to be postponed to 2025 with GDP expanding around 3.2%, according to UniCredit bank's ... more

Raiffeisen Bank profit rises over €260mn in Hungary

more

Intesa Sanpaolo’s Hungarian unit closes record year in 2023

CIB realised a record HUF64bn (€160mn) in after-tax profit, up from HUF36.1bn a year ago, which translates to a robust 21.5% ROE, the Hungarian unit of Intesa Sanpaolo said on March 26.  ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    5 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    5 days ago
  4. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    6 days ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    19 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    28 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss