ÁKK to start selling two new series of Bónusz bonds next week
The Government Debt Management Centre (ÁKK) closed sales of the 2018/O and 2020/P series of its Bónusz bonds introduced in March on Thursday and will start selling two new series next week, ÁKK told Hungarian news agency MTI yesterday.
The new four-year 2018/P bonds will pay a 1.25-percentage-point premium and the six-year 2020/Q papers a 2-percentage-point premium over the latest 12-month T-bill auction yields. ÁKK will issue HUF 100bn of each of the 2018/P and 2020/Q series. The four-year 2018/P bonds will carry 3.49pc interest p.a. and the six-year 2020/Q bonds 4.24pc. The bonds will pay interest once a year.
The primary aim of the issue of the Bonusz bonds is to increase the maturity of the volume of government securities held by retail investors, ÁKK said.
Experience so far shows that ÁKK's intention to primarily sell the bonds to retail investors has only been partially achieved. Therefore, ÁKK has decided to stop selling the previous two series on July 17 and to modify the terms of sales.
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