ÁKK buys back bonds early at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought back a combined HUF 20.69 billion of bonds expiring in 2020 before maturity at a reverse auction on Wednesday, state news wire MTI reported.

The ÁKK bought back HUF 16.36 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 4.33 bln of 2020/B bonds maturing on June 24, 2020, also accepting all the bids. The average repurchase yield was also 0.00%.

The ÁKK canceled a buy-back of 2021/B bonds maturing on October 27, 2021, as it received no bids.

The repurchase yields compare to a six-month benchmark of 0.02% and 12-month benchmark of minus 0.03%.

The ÁKK had planned to buy back HUF 5 bln of all three papers.

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