ÁKK bond buyback falls short at reverse auction
The Government Debt Management Agency (ÁKK) bought back a combined HUF 5.69 billion of bonds expiring in 2020 before maturity at a reverse auction on Wednesday, state news wire MTI reported.
The ÁKK bought back HUF 5.05 bln of 2020/A bonds, which mature on November 12, 2020, accepting all the bids. The average repurchase yield was 0.00%.
The ÁKK also bought back HUF 0.64 bln of 2020/B bonds maturing on June 24, 2020, also accepting all the bids. The average repurchase yield was also 0.00%.
The repurchase yields compare to a six-month secondary market benchmark of 0.05% and a 12-month benchmark of 0.03%.
The ÁKK had planned to buy back HUF 5 bln of both papers.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.