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ÁKK buys back bonds at reverse auction (updated)

The Government Debt Management Agency (ÁKK) bought back HUF 7.3 billion of bonds expiring in 2019 before maturity at a reverse auction on Wednesday, state news wire MTI reported.

The ÁKK accepted all bids to buy back HUF 2 bln of 2019/C bonds, which mature on October 30, 2019. The average repurchase yield was 0.00%, 10 basis points under the three-month secondary market benchmark.

The ÁKK also accepted all HUF 5.3 bln of bids to buy back 2020/B bonds, which mature on June 24, 2020. The average repurchase yield was 0.01%, 21 bps under the 12-month benchmark.

The ÁKK had planned to buy back HUF 5.0 bln of both papers.