Hungary raises offer for twelve-month bills on high demand.

By bne IntelliNews April 29, 2011
The state debt manager increased the originally planned amount in twelve-month treasury bills by HUF 10bn and placed HUF 60bn (EUR 226.9mn), after receiving bids for HUF 203.0bn (EUR 767.77mn), the authority reported. Demand soared by almost 70%, with HUF 121.4bn being offered at the last auction two weeks ago. This is the highest level since H2 2009. The average yield on the twelve-month treasury bills, expiring on May 2, 2012, declined to 5.93%, down by 5bp from the yields at the previous auction, and 2bp below the Wednesday's secondary market benchmark. The range of the offered yields narrowed to 5.92%-5.94%, compared to 5.9%-5.99% at the tender on April 13.

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