Hungarian state debt manger AKK sold a combined HUF 75.5bn (EUR 246.1mn) of three-, five- and ten-year fixed-rate bonds at an auction on April 17, rising the initial offer by HUF 15bn on strong demand, the agency said in a statement. Investors’ bids totalled HUF 148.7bn, providing a healthy coverage ratio over the initial supply for all three types of issues.
AKK sold HUF 33.5bn worth of three-year bonds, up from HUF 25bn initially planned. The issue lured bids of HUF 65.4bn, down from HUF 73.7bn at the previous auction. The average yield decreased by 4bps from the previous tender to 4.47% and was down by 2bps from the secondary benchmark fixing.
The state debt authority sold HUF 20bn in five-year bonds, in line with the initial offer. Demand dropped to HUF 41.1bn from HUF 50.1bn. The average yield stood at 4.68%, down by 12bps from previous tender and 5bps under the secondary market benchmark.
AKK also placed HUF 22bn in ten-year bonds, rising the announced volume by HUF 7bn. Investors’ bids came in at HUF 42.2bn, a two-fold increase from the previous tender. The average yield stood at 5.58%, decreasing by 3pps from the previous auction and staying 5bps under the secondary benchmark fixing.
AKK sold HUF 19.9bn of the bonds in a non-competitive tender held after the auction.
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