ÁKK buys HUF 3.4 bln of bonds at reverse auction
Hungaryʼs Government Debt Management Agency (ÁKK) bought HUF 3.4 billion of bonds before maturity at a reverse auction today, according to Hungarian news agency MTI. ÁKK did not buy back any of the 2017/B bonds it also offered to repurchase early.
ÁKK bought back HUF 3.4 bln of 2017/A bonds, which mature on November 24, 2017. Bids reached HUF 7.2 bln.
Average repurchase yield was 0.89% for the 2017/A bonds, 2 basis points under Tuesdayʼs twelve-month secondary market benchmark and unchanged from the previous repurchase of the bonds held two weeks earlier.
Demand and the early repurchase dropped from the May 11 auction where ÁKK repurchased HUF 17.9 bln 2017/A bonds and HUF 1.17 bln of 2017/B bonds.
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