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.
Related Articles
Eurozone manufacturing growth hits four-year high in April but Middle East war drives record price surge
Eurozone manufacturing activity expanded at the fastest pace in nearly four years in April as factories rushed to build safety stocks ahead of expected price rises and supply shortages linked to the ... more
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