ÁKK exchanges HUF 32.5 bln of bonds at switch auction, less than planned

Debt

pixabay

The Government Debt Management Agency (ÁKK) sold HUF 32.5 bln of bonds maturing in 2024 and 2028 for ones that expire in 2017 and 2018 at a switch auction today, under the HUF 40 bln plan, Hungarian news agency MTI reported.

ÁKK sold HUF 19 bln of 2024/B bonds accepting 2017/A bonds as payment and a further HUF 13.5 bln of 2028/A bonds for 2018/B bonds.

Bids by primary dealers reached HUF 30.05 bln for the 2017/A bond exchange and HUF 19.55 bln for the 2018/B exchange.

ÁKK had planned to exchange HUF 20 bln for both the 2017/A bonds and the 2018/B bonds.

The average yield at the exchange for 2017/A bonds was 3.03% and 3.38% for the exchange of the 2018/B bonds. The closest ten-year secondary market benchmark, calculated on 2027/A bonds, was 3.29% on Tuesday.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.