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ÁKK exchanges HUF 16 bln of bonds at switch auction

The Government Debt Management Agency (ÁKK) exchanged three-year bonds maturing in 2019 and 2020 for HUF 16.0 billion of ten-year securities maturing in 2026 at a switch auction on Wednesday, state news wire MTI reported.

The ÁKK exchanged HUF 5.0 bln of 2026/D bonds for HUF 4.6 bln of 2019/A bonds, and HUF 11.0 bln of 2026/D bonds for HUF 10.3 bln of 2020/B bonds.

Primary dealers had made bids for HUF 7.2 bln of the 2026/D bonds for the 2019/A bonds, and for HUF 17.7 bln for the 2020/B bonds.