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ÁKK switches HUF 27.5 bln of bonds at auction

Debt

Hungary's State Debt Management Agency (ÁKK) sold HUF 27.5 billion of bonds maturing in 2029, 2030, and 2034 in exchange for ones expiring in 2022, 2023, and 2024 at a switch auction on Wednesday, according to a report by state news wire MTI.

ÁKK switched HUF 5 bln of 2029/B bonds for 2023/B bonds. Primary dealers bid for HUF 6.85 bln of the securities.

The agency sold HUF 12.5 bln of 2030/A bonds for 2022/B bonds. Dealers' bids came to HUF 25.95 bln.

ÁKK exchanged HUF 10 bln of 2034/A bonds for 2024/B bonds, after bids reached HUF 19.72 bln.

The agency had planned to switch HUF 10 bln of each of the bonds.

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