ÁKK buys back HUF 5.75 bln of bonds early at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought back HUF 5.75 billion of bonds expiring in 2019 before maturity at a reverse auction on Wednesday, state news wire MTI reported.   

The ÁKK bought back the 2019/A bonds, which mature on June 24, 2019, after bids reached HUF 10.55 bln.

The average repurchase yield was 0.58%, which compares to a 12-month secondary market benchmark of 0.61%.

The ÁKK had also planned to buy back 2019/C bonds maturing on October 30, 2019, but cancelled the auction. The agency had planned to buy back HUF 5 bln of both papers.

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