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ÁKK exchanges HUF 14.5 bln of bonds at switch auction, less than planned

Debt

The Government Debt Management Agency (ÁKK) exchanged HUF 14.5 bln of bonds maturing in 2024 and 2028 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 50 bln plan.

ÁKK exchanged HUF 10 bln of 2024/B bonds for 2017/B bonds and a further HUF 4.5 bln of the 2028/A bonds for 2017/A bonds.

Bids by primary dealers reached HUF 12.3 bln for the 2017/B bond exchange and HUF 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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