ÁKK accepts no bids at reverse auction
The Government Debt Management Agency (ÁKK) planned to buy a combined HUF 10 billion of bonds expiring in 2018 and 2019 before maturity at a reverse auction on Wednesday but cancelled the auction as bids were too low, state news wire MTI reported.
The ÁKK intended to buy back HUF 5 bln of 2018/B bonds, which mature on April 25, 2018, and HUF 5 bln of 2019/A bonds, maturing on June 24, 2019.
Bids reached only HUF 1.57 bln for the 2018/B buyback and HUF 10.51 bln for the 2019/A buyback. The ÁKK consequently did not accept any of the bids.
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.