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ÁKK sells HUF 24.5 bln of bonds at switch auction, below plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 24.5 billion of bonds maturing in 2026 and 2031, accepting ones expiring in 2022 as payment at a switch auction on Wednesday, state news wire MTI reports.

ÁKK sold HUF 12.5 bln of 2026/D bonds for 2022/A, under the HUF 20 bln plan. Demand by primary dealers came to HUF 18.91 bln for the exchange.

ÁKK also sold HUF 12 bln of 2031/A bonds for 2022/A bonds, also under the HUF 20 bln plan. Bids reached HUF 20.85 bln.

The 2026/D bonds sold at an average yield of 1.18% and the 2031/A bonds at a yield of 1.97%. The average yield of the 2022/A bonds was 0%.

Of the closest secondary market benchmarks, the five-year benchmark calculated on 2025/C bonds was 1.06% and the 10-year benchmark calculated on 2030/A bonds was 1.77%.

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