ÁKK sells HUF 45bn of bonds at switch auction

Debt

The Government Debt Management Agency (ÁKK) sold primary securities dealers HUF 45bn of bonds maturing in 2019 and 2022 for papers that run until 2015 and 2016, respectively, at a switch auction on Wednesday, well under the planned amount, Hungarian news agency MTI reported.

ÁKK sold HUF 30 bln of floating rate 2019/B bonds, in line with the original offer. Bids came to HUF 94.5 bln. ÁKK accepted 2015/B bonds as payment for the papers.

ÁKK sold HUF 15 bln of the 2022/A bonds, well below the HUF 50 bln offer. Bids reached just HUF 19.4 bln. ÁKK accepted 2016/D bonds as payment. Average auction yield was 4.36%.

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