ÁKK exchanges HUF 39 bln of bonds at switch auction, slightly less than planned
The Government Debt Management Agency (ÁKK) sold HUF 39 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 sold HUF 19 bln of 2024/B bonds accepting 2017/B bonds as payment and a further HUF 20 bln of 2024/B bonds for 2017/A bonds.
Bids by primary dealers reached HUF 38.78 bln for the 2017/A bond exchange and HUF 28.52 bln for the 2017/B exchange.
ÁKK had planned to exchange HUF 20 bln for both the 2017/A bonds and the 2017/B bonds.
The average yield at the exchange for 2017/A bonds was 3.46% and 3.45% for the exchange of the 2017/B bonds.
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