ÁKK buys HUF 3.4 bln of bonds at reverse auction
Hungaryʼs Government Debt Management Agency (ÁKK) bought HUF 3.4 billion of bonds before maturity at a reverse auction today, according to Hungarian news agency MTI. ÁKK did not buy back any of the 2017/B bonds it also offered to repurchase early.
ÁKK bought back HUF 3.4 bln of 2017/A bonds, which mature on November 24, 2017. Bids reached HUF 7.2 bln.
Average repurchase yield was 0.89% for the 2017/A bonds, 2 basis points under Tuesdayʼs twelve-month secondary market benchmark and unchanged from the previous repurchase of the bonds held two weeks earlier.
Demand and the early repurchase dropped from the May 11 auction where ÁKK repurchased HUF 17.9 bln 2017/A bonds and HUF 1.17 bln of 2017/B bonds.
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.