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ÁKK exchanges HUF 18 bln of bonds at switch auction, below plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 18 bln of floating-rate bonds maturing in 2019 for floating-rate ones that mature in 2017 at a switch auction on Wednesday, HUF 2 bln less than the plan.

ÁKK sold HUF 18 bln of the floating-rate 2019/D bonds accepting 2017/C bonds as payment. 

Primary dealers bid to buy HUF 44.63 bln of the floaters expiring in 2019. 

The 2019 bonds sold at an average price of 97.9000% at the exchange. 

ÁKK calculated the 2017/C bonds which expire on December 20, 2017 at a net price of 99.5692% as payment. 

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