ÁKK buys back HUF 95 bln of bonds early at reverse auction
The Government Debt Management Agency (ÁKK) bought back a combined HUF 95.68 billion of bonds expiring in 2020 and 2021 before maturity at a reverse auction on Wednesday, state news wire MTI reported.
The ÁKK bought back HUF 1.48 bln of 2020/A bonds, which mature on November 12, 2020, accepting all the bids. The average repurchase yield was 0.02%.
The ÁKK also bought back HUF 6.51 bln of 2020/C bonds maturing on September 23, 2020, also accepting all the bids. The average repurchase yield was 0.03%.
Finally, the ÁKK bought back HUF 87.69 bln of 2021/C bonds, which mature on April 21, 2021. Bids reached HUF 116.94 bln, and the average repurchase yield was 0.06%.
The repurchase yields compare to a three-month secondary market benchmark of 0.01% and a 12-month benchmark of 0.05%.
The ÁKK had planned to buy back HUF 5 bln of each of the papers.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.