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ÁKK accepts no bids at reverse auction

Debt

The Government Debt Management Agency (ÁKK) planned to buy a combined HUF 10 billion of bonds expiring in 2018 and 2019 before maturity at a reverse auction on Wednesday but cancelled the auction as bids were too low, state news wire MTI reported.

The ÁKK intended to buy back HUF 5 bln of 2018/B bonds, which mature on April 25, 2018, and HUF 5 bln of 2019/A bonds, maturing on June 24, 2019.

Bids reached only HUF 1.57 bln for the 2018/B buyback and HUF 10.51 bln for the 2019/A buyback. The ÁKK consequently did not accept any of the bids.

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