The Government Debt Management Agency (ÁKK) sold HUF 38.51 billion of bonds maturing in 2026 and 2028, accepting ones expiring in 2021 as payment at a switch auction on Wednesday, Hungarian news agency MTI reports.
ÁKK sold HUF 20 bln of 2026/D bonds for 2021/C bonds, in line with its original offer. Demand by primary dealers came to HUF 53.50 bln for the exchange.
The 2026/D bonds sold at an average yield of 2.20%. The average yield of the 2021/C bonds was 0.40%.
ÁKK also sold HUF 18.51 bln of 2028/A bonds for 2021/B bonds, below its original offer of HUF 20 bln. Bids reached HUF 18.51 bln.
The 2028/A bonds sold at an average yield of 2.52%. The average yield of the 2021/B bonds was 0.60%.
Of the closest secondary market benchmarks the three-year benchmark calculated on 2022/C bonds was 1.04%, the five-year benchmark calculated on 2024/C bonds was 1.77% and the ten-year benchmark calculated on 2030/A bonds was 2.85%.