Hungary state debt manager increases T-bond float on high demand.

By bne IntelliNews September 10, 2010
The demand for Hungarian government bonds recovered at the latest primary auction, the State Debt Management Agency (AKK) informed. It floated HUF 70bn (EUR 244mn) worth of bonds with three-, five- and ten-year maturity periods, including HUF 10bn in additional three- and HUF 5bn in five- and ten-year bond issues. AKK sold HUF 30bn in three-year bonds, HUF 20bn in five-year bonds and HUF 20bn in ten-year bonds. Also, AKK sold another HUF 25.3bn of the three-, five-and ten-year bonds at a non-competitive procedure, thus placing the full issue. The total investor bids at the auction amounted to HUF 194.3bn, providing a 3.9 coverage ratio against the original supply, reaching a record high level this year. Subscription recovered from the latest primary auction couple of weeks ago, when the coverage ratio was at 1.8. Investors' demand has been pushed up by the cabinet announcement for notable consolidation of the fiscal position next year. The average yield for all bonds decreased from the respective secondary market benchmarks, reaching 7.18% for the three-year bond, 7.21% for the five-year bond and 7.35% for the ten-year bond. However, yields were still above the rates at the previous auction.

Related Articles

Assets of Hungarys investment funds up 3.2% m/m in Feb 2013.

Hungary's investment funds had aggregate assets of HUF 3.657tn (EUR 11.98bn) as of end-February 2013, up by 3.2% m/m, MTI news agency reported citing data from the association of investment funds ... more

Hungary's number of employees down 0.6% y/y in Jan 2013.

The number of employees in Hungary's public and private sectors fell for the tenth straight month in January 2013 declining by 0.6% y/y to 2.574mn, the statistics office informed. The decline ... more

Hungarys MVM clears deal for purchasing E.ONs local units.

The assembly of state-owned Hungarian Electricity Works (MVM) has approved the purchase of the local gas business of German power utility E.ON, Hungary AM reported, citing local daily Magyar ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss