2011/B bonds, issued first in January 2006, will expire on October 12, 2011 and carries a 6% annual coupon.
2012/B bonds were first offered in October 2006, they will expire on June 12, 2012, and they bear a 7.25% coupon.
Settlement of the auction on May 11 will coincide with the settlement of Thursday bond auction where ÁKK will offer the usual mix of HUF 20 billion three-year benchmark bonds, HUF 15 billion of five-year and HUF 10 billion of the ten-year benchmark.
The auction will be the fifth reverse auction this year.
All the three comparable secondary market benchmarks: the three-month benchmark, calculated on discount T-bills expiring on September 21, 2011, the six-month benchmarks, calculated for T-bills due on November 16, this year, and the twelve-month benchmark yield, calculated on bills due on March 7, 2012, stood at 5.85% on Tuesday.
ÁKK has bought back early a combined HUF 8.7 billion, all of the same bond series at the four reverse auction held this year. The debt manager planned to buy back HUF 30 billion bonds early through six reverse auctions tentatively planned for May-July in its latest three-month issue plan released in the middle of April.
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