ÁKK sells less-than-planned HUF 88 bln of bonds at switch auction

Debt

The Government Debt Management Agency (ÁKK) sold primary securities dealers HUF 88 bln of bond maturing in 2019 and 2020 for papers that run until 2015 and 2016, respectively, at a switch auction on Wednesday, HUF 12 bln less than planned.

ÁKK sold HUF 50 bln of floating rate 2019/B bonds, in line with the original offer. Bids came to HUF 55.2 bln. ÁKK accepted 2015/B bonds as payment for the papers.

ÁKK sold HUF 38 bln of 2022A bonds, under the HUF 50 bln offer. Bids reached HUF 60.1 bln. ÁKK accepted 2016/D bonds as payment. Average auction yield was 3.91pc.

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