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ÁKK buys back HUF 95 bln of bonds early at reverse auction

The Government Debt Management Agency (ÁKK) bought back a combined HUF 95.68 billion of bonds expiring in 2020 and 2021 before maturity at a reverse auction on Wednesday, state news wire MTI reported.  

The ÁKK bought back HUF 1.48 bln of 2020/A bonds, which mature on November 12, 2020, accepting all the bids. The average repurchase yield was 0.02%.

The ÁKK also bought back HUF 6.51 bln of 2020/C bonds maturing on September 23, 2020, also accepting all the bids. The average repurchase yield was 0.03%.

Finally, the ÁKK bought back HUF 87.69 bln of 2021/C bonds, which mature on April 21, 2021. Bids reached HUF 116.94 bln, and the average repurchase yield was 0.06%.

The repurchase yields compare to a three-month secondary market benchmark of 0.01% and a 12-month benchmark of 0.05%.

The ÁKK had planned to buy back HUF 5 bln of each of the papers.