ÁKK sells HUF 27 bln of bonds at switch auction, below plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 27 bln of bonds maturing in 2024 and 2025 for bonds expiring in 2019 at a switch auction on Wednesday, Hungarian news agency MTI reported.

The ÁKK sold HUF 7 bln of 2024/B bonds, accepting 2019/A bonds as payment. The ÁKK also sold HUF 20 bln of 2025/B bonds for 2019/C bonds. 

The scale of the sales was under the original plan, as the ÁKK had offered to sell HUF 20 bln of bonds in both cases.

Demand by primary dealers for the 2024/B bonds came to HUF 23.05 bln. Demand for the 2025/B bonds was HUF 29.44 bln.

The 2024 bonds sold at an average yield of 2.84% at the exchange, while the 2025 bondsʼ average yield came to 3.09% at the switch auction. The average yield of the 2019/A bonds was 0.29%, and the yield of the 2019/C bonds was 0.48%.

Of the closest secondary market benchmarks, the ten-year benchmark calculated on 2027/A bonds was 3.26%, the five-year benchmark calculated on 2022/B bonds was 2.10%, and the three-year benchmark calculated on 2020/C bonds was 1.09%.

Number of Thefts in Capital Edges Higher in 2023 Figures

Number of Thefts in Capital Edges Higher in 2023

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Popular Pain Meds Could Worsen Some Disease Symptoms Science

Popular Pain Meds Could Worsen Some Disease Symptoms

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.