ÁKK issued HUF 1.719 tln of forint-denominated bonds for institutional investors, 52% of the target in the annual plan. Retail forint issues came to HUF 906 bln, 27% of the full-year target.
The agency said the central budget's liquidity reserves stood around 5.5% of GDP at the end of the first quarter.
It noted that the net financing requirement of the central budget is HUF 3.332 tln for 2021.
ÁKK said Hungary would issue its first 30-year forint-denominated green bond on April 22, Earth Day.
The agency will issue the green bond on a quarterly basis and expects total issuance for the year to come to HUF 90 bln.
In addition, ÁKK said it will offer 15- and 20-year bonds every four weeks in the second quarter onwards, rather than biweekly as it did in the first quarter. Switch auctions will be held weekly from Q2, after being held biweekly in Q1.
The agency noted that the ratio of foreign currency debt within total state debt fell to 18.5% at the end of Q1 from 19.4% at the end of 2020 because of a FX debt repayment in March covered by a EUR 2.5 bln ten- and 30-year pre-financing bond issuance in November 2020.
ÁKK said it drew down 36% of its full-year EUR 1 bln target for FX loans by the end of Q1.
"ÁKK continues to maintain the possibility of actively managing FX debt similarly to previous years' practices in accordance with the ÁKK's strategic goal," it added.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
