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ÁKK buys back HUF 95.2 bln of bonds early at reverse auction

The Government Debt Management Agency (ÁKK) bought back a combined HUF 95.20 billion of bonds expiring in 2020 and 2021 before maturity at a reverse auction on Wednesday, state news wire MTI reports.

ÁKK bought back HUF 2.68 bln of 2020/A bonds, which mature on November 12, 2020, accepting all the bids.

ÁKK also bought back HUF 49.83 bln of 2021/A floating-rate bonds maturing on June 23, 2021. Bids reached HUF 58.91 bln.

ÁKK bought back an additional HUF 42.71 bln of 2021/C bonds, which mature on April 21, 2021, accepting all the bids.

The average repurchase yields for all three securities was 0%.

The secondary market 12-month benchmark yield was -0.05%.

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