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ÁKK exchanges HUF 38.5 bln of bonds at switch auction, less than planned

Debt

The Government Debt Management Agency (ÁKK) exchanged HUF 38.5 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction on Wednesday, well under the HUF 50 bln plan.

ÁKK exchanged HUF 20.5 bln of 2024/B bonds for 2017/A bonds and HUF 18 bln of 2024/B bonds for 2017/B bonds.

Bids by primary dealers reached HUF 30.3 bln for the 2017/A bond exchange and HUF 24.3 bln for the 2017/B exchange.

ÁKK had planned to exchange HUF 25 bln for each of the shorter terms.

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