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ÁKK accepts no bids at reverse auction

The Government Debt Management Agency (ÁKK) planned to buy back a combined HUF 10 billion of bonds expiring in 2018 and 2019 before maturity at a reverse auction on Wednesday, but cancelled the auction as bids were low, state news agency MTI reported.

The ÁKK wished to buy back HUF 5 bln of 2018/B bonds, which mature on April 25, 2018, and HUF 5 bln of 2019/C bonds, maturing on October 30, 2019.

Bids amounted to zero for the 2018/B buyback and reached only HUF 1.84 bln for the 2019/C buyback. The ÁKK consequently did not accept any of the bids.