The Government Debt Management Agency (ÁKK) bought back early HUF 30.1 billion of two bonds maturing in 2013 and 2014 at a reverse auction on Wednesday. Demand for the early resale was the highest since the middle of April and, in a rare development, ÁKK accepted all offers it received. The debt manager bought back early HUF 20.2 billion of 2013/E bonds, which mature on October 24, 2013, at an average yield of 4.01%. The repurchase yield was slightly under the 4.08% three-month benchmark, calculated on a bill series maturing on September 18, on Tuesday. ÁKK bought back HUF 9.9 billion of 2014/C bonds, which mature on February 12, 2014, accepting all offers for these bonds too. The average yield came to 3.88%, under the 4.01% secondary market twelve-month benchmark, calculated on a bill maturing on April 30, 2014, on Tuesday. Including the current auction, which will be settled on June 5, ÁKK bought back HUF 197.9 billion bonds early at this year’s 8 reverse auctions. Last year it bought back HUF 236 billion of bonds at 16 reverse auctions, Econews calculated.
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