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ÁKK buys HUF 16.5 bln of bonds at reverse auction, more than planned

The Government Debt Management Agency (ÁKK) bought HUF 16.5 bln of bonds before maturity at a reverse auction on Wednesday, over the HUF 10 bln plan.

ÁKK bought back HUF 16.5 bln of 2017/B bonds, which mature on February 24, 2017. Bids reached HUF 25.11 bln.

Average repurchase yield was 0.94%, 9 bps under the twelve-month secondary market benchmark.

ÁKK cancelled the buyback of 2016/D bonds, which mature on December 22, 2016, despite bids reaching HUF 15.56 bln.

ÁKK planned to buy back HUF 5 bln of each of the bonds.