ÁKK exchanges HUF 6.5 bln of bonds at switch auction, less than planned

Debt

The Government Debt Management Agency (ÁKK) sold HUF 6.5 bln of bonds maturing in 2024 for ones that expire in 2018 at a switch auction today, under the HUF 20 bln plan, Hungarian news agency MTI reported.

ÁKK sold HUF 6.5 bln of 2024/B bonds accepting 2018/B bonds as payment.

Bids by primary dealers reached HUF 19.5 bln for the 2018/B bond exchange.

The average yield at the exchange for 2018/B bonds was 3.24%. The closest ten-year secondary market benchmark, calculated on 2025/B bonds, was 3.33% yesterday.

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