By Richard Connell
New York, Feb. 12 - The Hungarian Government Debt Management Agency (AKK) auctioned HUF 20 billion in three tranches on Thursday.
Hungary accepted bids for HUF 9,999,980,000 of 7.25% bonds with a maturity of Dec. 6, 2012 to yield an average of 11.37%. Accepted yields ranged from 11.3% to 11.49%. Demand totaled HUF 19,520,350,000 in this auction.
In a second tranche, Hungary accepted bids for HUF 5 billion of 8% bonds with a maturity of Dec. 2, 2015 to yield an average of 10.78%. Accepted yields ranged from 10.75% to 10.83%. Demand totaled HUF 14.975 billion in this tranche.
Hungary also accepted bids for HUF 5 billion of 6.5% bonds with a maturity of June 24, 2019 to yield an average of 9.9%. Accepted yields ranged from 9.7% to 9.95%. Demand totaled HUF 25.906 billion in this auction.
The auction was Hungary's first since October as part of its objective to restart the government bond market.
| Issuer: | Government Debt Management Agency of Hungary (AKK)
|
| Total amount: | HUF 19,999,980,000
|
| Issue: | Government bonds
|
| Auction date: | Feb. 12
|
|
|
| Three-year bonds
|
| Amount: | HUF 9,999,980,000
|
| Maturity: | Dec, 6, 2012
|
| Coupon: | 7.25%
|
| Average yield: | 11.37%
|
|
|
| Five-year bonds
|
| Amount: | HUF 5 billion
|
| Maturity: | Dec. 2, 2015
|
| Coupon: | 8%
|
| Average yield: | 10.78%
|
|
|
| Ten-year bonds
|
| Amount: | HUF 5 billion
|
| Maturity: | June 24, 2019
|
| Coupon: | 6.5%
|
| Average yield: | 9.9%
|
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