ÁKK sells HUF 24 bln of bonds at switch auction, below plan

Debt

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The Government Debt Management Agency (ÁKK) sold HUF 24 billion of bonds maturing in 2029 and 2031, accepting ones expiring in 2022 as payment at a switch auction on Wednesday, according to a report by state news wire MTI.

Image: Pixabay

ÁKK sold HUF 15 bln of 2029/A bonds for 2022/C bonds. Bids reached HUF 22.45 bln. The agency planned to sell HUF 15 bln of the 2029/A bonds.

ÁKK sold HUF 9 bln of 2031/A bonds for 2022/B bonds. Bids reached HUF 14.89 bln. The agency also planned to sell HUF 15 bln of the 2031/A bonds.

The 2029/A bonds sold at an average yield of 2.19% and the 2031/A bonds at a yield of 2.38%. The ÁKK calculated 2022/C bonds as payment at a fixed yield of 0.83% and 2022/B bonds at a fixed yield of 0.84%.

Of the closest secondary market benchmarks the 12-month benchmark, calculated on discount T-bills expiring on April 21, 2021 was 0.66% on Tuesday, the five-year benchmark calculated on 2025/C bonds was 1.53% and the 10-year benchmark calculated on 2030/A bonds was 2.25%.

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