ÁKK sells HUF 60 bln of bonds at switch auction, over plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 60 billion of bonds maturing in 2029 and 2033, accepting ones expiring in 2022 as payment at a switch auction on Wednesday, state news wire MTI reports.

ÁKK sold HUF 30 billion of 2029/A bonds for 2022/C bonds, raising its original offer by HUF 10 bln. Bids reached HUF 54.98 bln.

The agency also sold HUF 30 bln of 2033/A bonds for 2022/B bonds, raising its original offer by HUF 10 bln. Bids reached HUF 46.26 bln.

The 2029/A bonds sold at an average yield of 2.01% and the 2033/A bonds at an average yield of 2.33%. The average yield of the 2022/C bond was 0.86% and the 2022/B bondʼs average yield was also 0.86%.

The secondary market three-year benchmark yield, on 2023/C bonds, was 1.24%, the 10-year benchmark, on 2031/A bonds, was 2.21%.

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