ÁKK exchanges HUF 17 bln of bonds at switch auction, less than planned
The Government Debt Management Agency (ÁKK) sold HUF 17 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 25 bln plan.
ÁKK sold HUF 17 bln of 2024/B bonds accepting 2017/A bonds as payment.
Bids by primary dealers reached HUF 35.78 bln for the exchange.
The 2024/B bonds sold at an average yield of 3.43% at the switch auction. The closest ten-year secondary market benchmark, calculated on 2025/B bonds, was 3.35% on Tuesday.
ÁKK accepted the 2017/A bonds, expiring in November 2017, as payment at a price equalling to a yield of 1.28%.
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