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ÁKK buys back HUF 80.8 bln of bonds early at reverse auction

Debt

The Government Debt Management Agency bought a combined HUF 80.8 bln of bonds expiring in 2018 and 2019 before maturity at a reverse auction today, Hungarian news agency MTI reported.

ÁKK bought back HUF 14.1 bln of 2018/A bonds, which mature on December 20, 2018, practically level with bids. Average repurchase yield was 0.10%.

ÁKK also bought back HUF 66.7 bln of 2019/A bonds which mature on June 24, 2019. Bids came to HUF 85.3 bln. The average repurchase yield was 0.21%.

The yields compare to a six-month secondary market benchmark of 0.05% and a twelve-month benchmark of 0.11%.

ÁKK had planned to buy back HUF 5 bln of each bond.

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