ÁKK bond buyback far exceeds plan at reverse auction

Debt

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The Government Debt Management Agency (ÁKK) bought back a combined HUF 102.9 billion of bonds maturing in August and October of this year at a repurchase auction on Wednesday.   

The ÁKK bought back HUF 67.3 bln of 2019/D bonds, which mature on August 28, 2019. Bids reached HUF 72.7 bln, and the average repurchase yield was 0.00%.

The ÁKK also bought back HUF 35.6 bln of 2019/C bonds, which mature on October 30, 2019. Bids came to HUF 38.5 bln. The average repurchase yield was 0.06%. The repurchase yield compares to a six-month benchmark yield of 0.10%.

The ÁKK had planned to buy back just HUF 5 bln of both papers.

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