ÁKK buys back bonds early at reverse auction
The Government Debt Management Agency (ÁKK) bought back a combined HUF 53.72 billion of bonds expiring in 2018 and 2019 before maturity at a reverse auction on Wednesday, state news agency MTI reported.
The ÁKK bought back HUF 7.10 bln of 2018/A bonds, which mature on December 20, 2018, accepting all the bids. The average repurchase yield was 0.01%.
The ÁKK also bought back HUF 8.47 bln of 2019/A bonds maturing on June 24, 2019, accepting all the bids. The average repurchase yield was 0.01%.
Finally, the ÁKK bought back HUF 38.15 bln of 2019/D bonds maturing on August 28, 2019, accepting all the bids. The average repurchase yield was 0.00%.
The repurchase yields compare to a 12-month secondary market benchmark of 0.00% and a three-year benchmark of minus 0.03%.
The ÁKK had planned to buy back HUF 5 bln of all three papers.
No bids at T-bill auction
Earlier in the week, the ÁKK accepted no bids at an auction of three-month T-bills.
The agency had planned to sell HUF 30 bln of discount three-month T-bills at auction on Tuesday, but did not accept any bids and cancelled the event.
Primary dealers bid for HUF 49.9 bln of the securities.
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.