ÁKK buys back HUF 14.2 bln of three bonds at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought back early HUF 14.2 billion of three bonds maturing in 2013 and 2014 at a reverse auction on Wednesday. The debt manager bought back early HUF 2.3 billion of 2013/E bonds, which mature on October 24, 2013, at an average yield of 4.06%. The repurchase yield was slightly under the 4.08% three-month benchmark on Tuesday. ÁKK accepted less than one-fifth of the HUF 12.3 billion offers arriving from primary dealers. ÁKK bought HUF 4.0 billion of 2014/C bonds, which mature on February 12, 2014, accepting all offers for these bonds. The average yield came to 3.92%, under the 3.98% secondary market twelve-month benchmark on Tuesday. ÁKK bought back early HUF 7.9 billion of 2014/D bonds, which mature on August 22, 2014. Average yield was 3.94%, 4bp less than the one-year benchmark. Offers came to HUF 8.0 billion.

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