The Government Debt Management Agency (ÁKK) bought back a combined HUF 13.85 billion of bonds expiring in 2019 or 2020 before maturity at a reverse auction on Wednesday, state news wire MTI reported.
The ÁKK bought back HUF 1.04 bln of 2019/C bonds, which mature on October 10, 2019. Bids reached HUF 2.03 bln, and the average repurchase yield was 0.04%.
The ÁKK also bought back HUF 12.81 bln of 2020/B bonds maturing on June 24, 2020, after bids reached HUF 19.48 bln. The average repurchase yield was 0.11%.
The repurchase yields compare to a six-month secondary market benchmark of 0.06% and a 12-month benchmark of 0.20%.
The ÁKK had planned to buy back HUF 5 bln of both papers.