ÁKK sells HUF 25 bln of bonds at switch auction, over plan
The Government Debt Management Agency (ÁKK) sold HUF 25 billion of bonds maturing in 2026 and 2029, accepting ones expiring in 2022 as payment at a switch auction on Wednesday, state news wire MTI reports.
ÁKK sold HUF 10 bln of 2026/D bonds for 2022/C bonds, in line with its original offer. Bids reached HUF 10.8 bln.
The agency sold HUF 15 bln of 2029/A bonds for 2022/B bonds, raising its original offer by HUF 5 bln. Bids reached HUF 33.9 bln.
The 2026/D bonds sold at an average yield of 1.62% and the 2029/A bonds at a yield of 2.17%. The average yield of the 2022/C bond and the 2022/B bond was equally 0.76%.
Of the closest secondary market benchmarks, the three-year benchmark calculated on 2023/C bonds was 1.02% the five-year benchmark calculated on 2025/C bonds was 1.38% and the 10-year benchmark calculated on 2030/A bonds was 2.37%.
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