ÁKK sells HUF 20 bln of bonds at switch auction
The Government Debt Management Agency (ÁKK) sold primary securities dealers HUF 20 bln of bonds maturing in 2020 and 2023 for papers that run until 2016 at a switch auction on Wednesday, just one-fifth of the planned amount, Hungarian news agency reported today.
ÁKK sold HUF 10 bln of the 2020/A bonds, well under the HUF 50 bln original offer. Bids came to just HUF 12.2 bln. ÁKK accepted 2016/D bonds as payment at a fixed yield of 2.78%. Average yield at the auction was 4.30%.
ÁKK sold HUF 10 bln of the 2023/A bonds, too. The sale was short the original HUF 50 bln offer. Bids reached HUF 13.6 bln. ÁKK accepted 2016/C bonds as payment at a fixed yield of 2.31%. Average auction yield was 4.80%.
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