ÁKK switches less-than-planned short-term bonds to long ones at auction
The Government Debt Management Agency (ÁKK) sold primary dealers of government securities HUF 42 bln of bonds maturing in 2020 and 2022 for a bond that runs until 2016 at a switch auction on Wednesday, HUF 58 bln less than planned.
ÁKK sold HUF 20 bln of 2020/A bonds for 2016/D bonds, less than half of the HUF 50 bln original offer after receiving bids for just HUF 30 bln. Average auction yield was 2.96%.
ÁKK sold HUF 22 bln of 2022/A bonds, little less than half of the HUF 50 bln original offer. Bids reached HUF 39.6 bln. Here ÁKK also accepted 2016/B bonds as payment. Average auction yield was 3.25%.
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