ÁKK sells HUF 26.5 bln of bonds at switch auction
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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