ÁKK exchanges HUF 16 bln of bonds at switch auction, less than planned
The Government Debt Management Agency (ÁKK) exchanged HUF 16 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 50 bln plan.
ÁKK exchanged HUF 4.5 bln of 2024/B bonds for 2017/A bonds and a further HUF 11.5 bln of the 2024/B bonds for 2017/B bonds.
Bids by primary dealers reached HUF 6 bln for the 2017/A bond exchange and HUF 23.3 bln for the 2017/B exchange.
ÁKK had planned to exchange HUF 25 bln of each of the shorter terms.
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