ÁKK sells HUF 16 bln of bonds at switch auction, under plan
The Government Debt Management Agency (ÁKK) sold a combined HUF 16 bln of bonds maturing in 2022 and 2024 for bonds expiring in 2019 at a switch auction on Wednesday, less than planned as demand was low, Hungarian news agency MTI reported.
The ÁKK sold HUF 4 bln of 2022/A bonds for 2019/A bonds, and HUF 12 bln of 2024/B bonds for 2019/C bonds. Originally, the ÁKK had planned to exchange HUF 20 bln of each of the bonds.
Primary dealers bid to buy just HUF 10.7 bln of the 2022/A bonds and HUF 22.5 bln of the 2024/B bonds.
Average yields were 2.20% for the 2022/A bonds and 3.06% for the 2024/B bonds.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.