ÁKK sells HUF 20 bln of bonds at switch auction, as planned
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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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