ÁKK sells HUF 26.5 bln of bonds at switch auction
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The Government Debt Management Agency (ÁKK) sold HUF 26.5 billion of bonds maturing in 2029 and 2034, accepting ones expiring in 2022 and 2023 as payment at a switch auction on Wednesday, state news wire MTI reports.
ÁKK sold HUF 10 bln of 2029/A bonds for 2022/B bonds. Primary dealers bid to switch HUF 11.6 bln of their securities.
The agency sold HUF 7 bln of 2029/A bonds for 2022/C bonds. Bids reached HUF 9.4 bln.
In addition, ÁKK also sold HUF 9.5 bln of 2034/A bonds for 2023/C bonds. Bids came to HUF 13.7 bln.
ÁKK had planned to switch HUF 10 bln of each of the securities.
The average yield for the 2029/A bonds was 2.33% switched for the 2022/B bonds and 2.34% switched for the 2022/C bonds. Average yield for the 2034/A bonds was 2.95%.
The secondary market 10-year benchmark yield was 2.7% on Wednesday.
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