ÁKK buys back HUF 9.5bn of bonds at reverse auction
Hungary's Government Debt Management Agency (ÁKK) repurchased a combined HUF 9.5bn of bonds before maturity at a reverse auction on Wednesday.
ÁKK bought HUF 1.0bn of 2012/B bonds, which mature on June 12, 2012. Primary dealers offered HUF 3.3bn of the bonds. Average yield was 5.76%.
ÁKK bought HUF 8.5bn of 2012/C bonds, which mature on October 24. Dealers offered HUF 27.7bn. Average yield was 5.85%.
The benchmark yield for the twelve-month term -- maturing on August 22, 2012 -- on the secondary government securities market was 6.00%.
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