ÁKK sells HUF 36 bln of bonds, below plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 36 billion of bonds maturing in 2026 and 2031, accepting ones expiring in 2021 and 2022 as payment at a switch auction on Wednesday, Hungarian news agency MTI reports.

ÁKK sold HUF 16 bln of 2026/D bonds for 2021/B ones, HUF 4 bln below its original offer. Demand by primary dealers came to HUF 20.67 bln for the exchange.

ÁKK sold HUF 20 bln of 2031/A bonds for 2022/A bonds, in line with its original offer. Bids reached HUF 34.72 bln.

The 2026/D bonds sold at an average yield of 1.55% and the 2031/A bonds at a yield of 2.04%. The average yield of the 2021/B bond was 0.41% and the average yield of the 2022/A bond was 0.43%.

Of the closest secondary market benchmarks, the three-year benchmark calculated on 2022/C bonds was 0.79%, the five-year benchmark calculated on 2025/C bonds was 1.54% and the 10-year benchmark calculated on 2030/A bonds was 2.09%.

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