ÁKK buys back HUF 30 bln of bonds maturing this year and next at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought back early HUF 30.1 billion of two bonds maturing in 2013 and 2014 at a reverse auction on Wednesday. Demand for the early resale was the highest since the middle of April and, in a rare development, ÁKK accepted all offers it received. The debt manager bought back early HUF 20.2 billion of 2013/E bonds, which mature on October 24, 2013, at an average yield of 4.01%. The repurchase yield was slightly under the 4.08% three-month benchmark, calculated on a bill series maturing on September 18, on Tuesday. ÁKK bought back HUF 9.9 billion of 2014/C bonds, which mature on February 12, 2014, accepting all offers for these bonds too. The average yield came to 3.88%, under the 4.01% secondary market twelve-month benchmark, calculated on a bill maturing on April 30, 2014, on Tuesday. Including the current auction, which will be settled on June 5, ÁKK bought back HUF 197.9 billion bonds early at this year's 8 reverse auctions. Last year it bought back HUF 236 billion of bonds at 16 reverse auctions, Econews calculated.

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