ÁKK plans HUF 210 bln net forint issues in May-July

Debt

Hungaryʼs Government Debt Management Agency (ÁKK) plans net forint security issues of HUF 210 bln in May-July, with net issues of bonds and three-month discount T-bills and net redemptions of twelve-month discount T-bills, the three-month issue plan on the ÁKK website shows, as reported by Hungarian news agency MTI.

Gross issues are planned at HUF 935 bln and gross redemptions at HUF 725 bln in the three-month period.

In addition to the HUF 120 bln early bond repurchases at six reverse auctions, gross issues and redemptions include HUF 140 bln of long-term bonds sold for bonds nearing maturity at the seven switch auctions scheduled for the period.

No forint bond maturity is due in May-July.

Excluding the switch auctions, the ÁKK plans gross bond issues of HUF 395 bln at the weekly bond auctions. The offer of floaters and twelve-month discount T-bills will alternate with three fixed-rate bond series, as before.

The ÁKK plans to offer HUF 400 bln of discount T-bills in May-July, HUF 65 bln less than the HUF 465 bln bills expiring in the period. 

The debt manager plans to issue HUF 260 bln three-month discount T-bills, HUF 3 bln more than the respective maturities in the period.

Twelve-month discount T-bill sales are planned at HUF 140 bln, below the HUF 208 bln maturities, of which HUF 96 bln will be due on May 25 and HUF 112 bln on July 19.

Per-auction sales of both three-month and twelve-month discount T-bills are planned at HUF 20 bln, in line with the offers at recent auctions.

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