ÁKK exchanges HUF 11 bln of bonds at switch auction, less than planned

Debt

The Government Debt Management Agency (ÁKK) exchanged HUF 11 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction today, under the HUF 50 bln plan, Hungarian news agency MTI reported. 

ÁKK exchanged HUF 7 bln of 2024/B bonds for 2017/B bonds and a further HUF 4 bln for 2017/A bonds.

Bids by primary dealers reached HUF 7.0 bln for the 2017/B bond exchange and HUF 10.6 bln for the 2017/A exchange.

ÁKK had planned to exchange HUF 25 bln of each of the shorter terms.

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