ADVERTISEMENT

ÁKK sells HUF 40 bln of bonds at switch auction, below plan

Debt

The Government Debt Management Agency (ÁKK) sold a combined HUF 40 bln of bonds maturing in 2021 and 2024 for ones expiring in 2018 and 2019 at a switch auction on Wednesday.

The ÁKK sold HUF 20 bln of 2021/A floating-rate bonds, accepting 2018/D bonds as payment. The ÁKK also sold HUF 20 bln of 2024/B bonds for 2019/C bonds. It had offered to sell HUF 20 bln of bonds in both cases.

Demand by primary dealers for the floating-rate 2021/A bonds came to HUF 40.7 bln. Demand for the 2024/B bonds was HUF 45.7 bln.

The 2024 bonds had an average yield of 2.84% at the switch auction.

The average yield at which the 2018/D bonds will be calculated during the exchange will be based on the 3-month interbank offered rate as published by the National Bank of Hungary (MNB) on April 19. The yield of the 2019/C bonds calculated as payment was fixed at 0.40%.

Of the closest secondary market benchmarks, the ten-year benchmark calculated on 2027/A bonds was 3.27%, the five-year benchmark calculated on 2022/B bonds was 2.06%, and the three-year benchmark calculated on 2020/C bonds was 1.05% on Tuesday.

Parents Spend HUF 5,000-10,000 on Children's Day Figures

Parents Spend HUF 5,000-10,000 on Children's Day

EC Advances Infringement Procedure Over Hungary's Sovereignt... EU

EC Advances Infringement Procedure Over Hungary's Sovereignt...

Hell Energy Inaugurates HUF 80 bln Capacity Expansion Manufacturing

Hell Energy Inaugurates HUF 80 bln Capacity Expansion

Puskás Arena to Host 2026 Champions League Final In Budapest

Puskás Arena to Host 2026 Champions League Final

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.