ÁKK sells HUF 40 bln of bonds at switch auction

The Government Debt Management Agency (ÁKK) sold HUF 40.0 billion of bonds maturing in 2026 and 2028, accepting bonds expiring in 2020 as payment, at a switch auction on Wednesday, state news wire MTI reported.

The ÁKK sold HUF 20 bln of 2026/D bonds for 2020/C bonds, in line with its original offer. Demand from primary dealers came to HUF 31.2 bln for the exchange.

The 2026/D bonds sold at an average yield of 2.46%. The yield of the 2020/C bonds was 0.15%.

The ÁKK also sold HUF 20 bln of 2028/A bonds for 2020/A bonds, also in line with its original offer. Bids reached HUF 27.5 bln.

The 2028/A bonds sold at an average yield of 2.74%. The yield of the 2020/A bonds was 0.20%.

The five-year benchmark yield, on the 2024/C bond, was 1.95%. The ten-year benchmark yield, on the 2030/A bond, was 2.95%.

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