ÁKK sells HUF 30 bln of bonds at switch auction, as planned
Hungaryʼs Government Debt Management Agency ( ÁKK) sold HUF 30 bln of bonds maturing in 2024 and 2019 for ones expiring in 2018 and 2017 at a switch auction today, Hungarian news agency MTI reported.
ÁKK sold HUF 20 bln of 2024/B bonds accepting 2018/B bonds as payment and a further HUF 10 bln of 2019/D floating-rate bonds for 2017/C floating-rate bonds. The scale of the sale was in line with the original plan.
Demand by primary dealers for the 2024/B bonds came to HUF 42.64 bln and to HUF 21.46 bln for the 2019/D bonds.
The 2024 bonds sold at an average yield of 2.66% at the exchange. Of the closest secondary market benchmarks, the five-year benchmark, calculated on 2021/B bonds, was 1.99%, the ten-year benchmark, calculated on 2027/A bonds was 2.94%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.