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ÁKK exchanges HUF 21.5 bln of bonds at switch auction

Debt

The Government Debt Management Agency (ÁKK) exchanged HUF 21.5 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 40 bln plan.

ÁKK exchanged HUF 9.5 bln of 2024/B bonds for 2017/B bonds and a further HUF 12 bln for 2017/A bonds.

Bids by primary dealers reached HUF 17.5 bln for the 2017/B bond exchange and HUF 13.5 bln for the 2017/A exchange.

ÁKK had planned to exchange HUF 20 bln of each of the shorter term bonds.

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