ÁKK exchanges HUF 13.5 bln of bonds at switch auction, less than planned
The Government Debt Management Agency (ÁKK) exchanged HUF 13.5 bln in bonds maturing in 2024 for ones that expire in 2016 and 2017 at a switch auction on Wednesday. The exchange was well under the HUF 50 bln planned.
ÁKK exchanged HUF 3.0 bln of 2024/B bonds for 2016/D bonds and HUF 10.5 bln of 2024/B bonds for 2017/A bonds.
Bids by primary dealers reached HUF 5.1 bln for the 2016/D exchange and HUF 18.6 bln for the 2017/A exchange.
ÁKK had planned to exchange HUF 25 bln for each of the shorter terms.
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