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ÁKK buys back HUF 14.35 bln of bonds early at reverse auction

The Government Debt Management Agency (ÁKK) bought back a combined HUF 14.35 billion of bonds expiring in 2021 before maturity at a reverse auction on Wednesday, state news wire MTI reports.

ÁKK bought back HUF 7.45 bln of 2021/A floating-rate bonds, which mature on June 23, 2021. Bids reached HUF 43.01 bln.

The agency also bought back HUF 6.9 bln of 2021/C bonds maturing on April 21, 2021. Bids reached HUF 20.08 bln. 

ÁKK had also planned to buy back 2021/B bonds but accepted none of the HUF 9.28 bln of bids.

The average repurchase yield for the 2021/C bond was 0.39%. The secondary market 12-month benchmark yield was 0.45%.

The agency had planned to buy back HUF 5 bln of all three papers.