ÁKK sells HUF 20 bln of bonds at switch auction, below plan
The Government Debt Management Agency (ÁKK) sold HUF 20 billion of bonds maturing in 2026, accepting ones expiring in 2022 as payment at a switch auction on Wednesday, Hungarian news agency MTI reports.
ÁKK also sold HUF 20 bln of 2026/D bonds for 2022/A bonds, in line with its original offer. Bids reached HUF 76.30 bln.
The 2026/D bonds sold at an average yield of 1.45%. The average yield of the 2022/A bonds was 0.08%.
Of the closest secondary market benchmarks, the five-year benchmark calculated on 2024/C bonds was 0.96%.
ÁKK also planned to sell HUF 10 bln of 2023/B floating-rate bonds for 2021/A floating rate bonds but despite demand by primary dealers reaching HUF 22.82 bln, it canceled the exchange.
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