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ÁKK buys back bonds early at reverse auction

The Government Debt Management Agency (ÁKK) bought back HUF 400 million of bonds expiring in 2020 before maturity at a reverse auction on Wednesday, state news agency MTI reported.

The ÁKK accepted HUF 400 mln of HUF 619 mln of bids to buy back the 2020/B bonds, which mature on June 24, 2020. The average repurchase yield was 0.03%, 15 basis points under the 12-month benchmark.

The ÁKK accepted none of HUF 294 mln of bids for the repurchase of 2019/C bonds, which mature on October 30, 2019.  

The agency had planned to buy back HUF 5 bln of both papers.