Feb. 9 (Bloomberg) -- Hungary sold 40 billion forint in bonds, 3 billion forint less than planned, at an auction today as borrowing costs fell.
The government raised 20 billion forint in a new issue of notes maturing in 2015 at an average yield of 8.22 percent, according to data from the Debt Management Agency, known as AKK. The AKK sold 3-year bonds two weeks ago at an average yield of 8.44 percent.
The AKK today sold 10 billion forint in 2017 securities at 8.3 percent compared with 8.64 percent at the last sale on Jan. 26. It raised 10 billion forint in 2022 notes at 8.3 percent from 8.7 percent two weeks ago.
Investors bid for a total 62 billion forint in debt from 109 billion two weeks ago, when the AKK offered bonds maturing in 2014, 2017 and 2022.
To contact the editor responsible for this story: Andras Gergely at email@example.com