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ÁKK buys back bonds early at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought a combined HUF 43.65 billion of bonds expiring in 2019 before maturity at a reverse auction on Wednesday, state news wire MTI reported.   

The ÁKK bought back HUF 23.65 bln of 2019/C bonds, which mature on October 30, 2019. Bids reached HUF 47.73 bln, and the average repurchase yield was 0.06%.

The ÁKK also bought back HUF 20.00 bln of 2019/D bonds maturing on August 28, 2019, after bids reached HUF 67.25 bln. 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 0.56%.  The ÁKK had planned to buy back HUF 5 bln of both papers.

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