ÁKK sells HUF 35 bln of bonds at switch auction
The Government Debt Management Agency (ÁKK) sold HUF 35 billion of bonds maturing in 2029, 2034, and 2038 accepting ones expiring in 2022 and 2023 as payment at a switch auction on Wednesday, according to a report by state news wire MTI.
ÁKK sold HUF 15 bln of 2029/A bonds for 2022/B bonds, raising its original offer by HUF 5 bln. Primary dealers bid to switch HUF 37.87 bln of their securities.
The agency also sold HUF 10 bln of 2034/A bonds for 2023/C bonds, in line with its original offer after bids reached HUF 15.8 bln.
ÁKK sold HUF 10 bln of 2038/A bonds for 2023/C bonds, in line with its original offer. Bids came to HUF 20.4 bln.
The average yield for the 2029/A bonds was 2.4%, the average yield of the 2034/A bonds was 3.13% and the average yield of the 2038/A bond was 3.42%. The average yield for 2022/B bonds was 0.81% and the average yield for the 2023/C bonds was 1.15%.
The secondary market five-year benchmark yield was 2.03%, the 10-year benchmark yield was 2.92% and the 15-year benchmark yield was 3.41% on Tuesday.
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