ÁKK sells HUF 20 bln of bonds at switch auction, as planned
Hungary’s Government Debt Management Agency (ÁKK) sold HUF 20 bln of bonds maturing in 2022 for ones expiring in 2018 at a switch auction today, Hungarian news agency MTI reported.
ÁKK sold HUF 20 bln of 2022/A bonds accepting 2018/B bonds as payment. The scale of the sale was in line with the original plan.
Demand by primary dealers for the 2022/A bonds came to HUF 33.46 bln.
The 2022 bonds sold at an average yield of 1.97% at the exchange. Of the closest secondary market benchmarks, the five-year benchmark, calculated on 2021/B bonds, was 1.76%.
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