ÁKK buys HUF 24.9 bln of bonds at reverse auction
The Government Debt Management Agency (ÁKK) bought HUF 24.9 bln of 2017/A bonds before maturity at a reverse auction today, Hungarian news agency MTI reported. ÁKK did not buy back any of the other bond series on offer which expires in December 2017.
In an unusual development, ÁKK bought back all the 2017/A bonds primary dealers bid to sell. 2017/A bonds mature on November 24, 2017.
Average repurchase yield was 0.90%, 3 basis points over Tuesdayʼs twelve-month secondary market benchmark and one basis points up from the previous repurchase of the bond held two weeks earlier.
Demand and the early repurchase were up from the May 25 auction where ÁKK repurchased HUF 3.4 bln 2017/A bonds, little less than half of the bids, and did not buy back any 2017/B bonds which were also on offer.
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.