ÁKK buys back HUF 88.7 bln of bonds at reverse auction

Debt

The Government Debt Management Agency (ÁKK) bought back a combined HUF 88.7 billion of bonds expiring in 2019 before maturity at a reverse auction on Wednesday, state news wire MTI reported.

The ÁKK bought back HUF 4.73 bln of 2019/A bonds, which mature on June 24, 2019. Bids reached HUF 18.39 bln, and the average repurchase yield was 0.02%.

The ÁKK also bought back HUF 83.97 bln of 2019/B bonds maturing on May 20, 2019. Bids reached HUF 111.86 bln. The average repurchase yield was 0.00%.

The repurchase yields compare to a 12-month secondary market benchmark of 0.00% and a three-year benchmark of 0.47%.

The ÁKK had planned to buy back HUF 5 bln of both papers.

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