ÁKK sells HUF 28.5 bln of bonds at switch auction


At a switch auction on Wednesday, the Government Debt Management Agency (ÁKK) sold HUF 28.5 bln of bonds maturing in 2024 and 2025 for bonds expiring in 2018 and 2019, state news agency MTI reports.

The ÁKK sold HUF 20 bln of 2024/B bonds, accepting 2018/A bonds as payment, and a further HUF 8.5 bln of 2025/B bonds for 2019/A bonds. It originally planned to sell HUF 20 bln of both papers.

Demand from primary dealers for the 2024/B bonds came to HUF 23.26 bln, and to HUF 46.43 bln for the 2025/B bonds.

The 2024 bonds sold at an average yield of 2.90% at the exchange and the 2025 bonds at 3.01%. Of the closest secondary market benchmarks, the five-year benchmark calculated on 2021/B bonds was 1.90%, while the ten-year benchmark calculated on 2027/A bonds was 3.31%.

The debt manager accepted the 2018/A bonds, expiring on December 20, 2018, as payment at a yield of 0.40%. It accepted the 2019/A bonds, which mature on June 24, 2019, at a yield of 0.83%.

Also on Wednesday at a reverse auction, the ÁKK bought back a combined HUF 56.3 bln of bonds that expire in 2018 before maturity.

The ÁKK bought back HUF 18.76 bln of 2018/B bonds, which mature on April 25, 2018. Bids reached HUF 19.18 bln, with the average repurchase yield at 0.22%. It also bought back HUF 37.57 bln of 2018/C bonds maturing on June 22, 2018. Bids reached HUF 40.79 bln, with an average repurchase yield of 0.24%.


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


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.