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ÁKK buys back HUF 19.1 bln of bonds early at reverse auction

Debt

The Government Debt Management Agency bought a combined HUF 19.1 bln of bonds expiring in 2018 and 2019 before maturity at a reverse auction today, Hungarian news agency MTI reported.

Both demand and the actual repurchase was down from over HUF 80 bln at the previous reserve auction held two weeks earlier. The average repurchase yields dropped slightly.

ÁKK bought back HUF 2.5 bln of 2018/B bonds, which mature on April 25, 2018, practically level with bids. Average repurchase yield was 0.08%.

ÁKK also bought back HUF 16.6 bln of 2019/A bonds which mature on June 24, 2019. Bids came to HUF 18.7 bln. The average repurchase yield was 0.20%.

The yields compare to a six-month secondary market benchmark of 0.10% and a twelve-month benchmark of 0.09%.

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