ÁKK reverse auction purchases exceed plan
The Government Debt Management Agency (ÁKK) bought back a combined HUF 21.32 billion of bonds expiring in 2019 or 2020 before maturity at a reverse auction on Wednesday, state news wire MTI reported.
The ÁKK bought back HUF 4.62 bln of 2019/C bonds, which mature on October 30, 2019, accepting all bids. The average repurchase yield was 0.27%.
The ÁKK also bought back HUF 16.70 bln of 2020/B bonds maturing on June 24, 2020. Bids reached HUF 20.20 bln, and the average repurchase yield was 0.40%.
The repurchase yields compare to a six-month secondary market benchmark of 0.18% and 12-month benchmark of 0.37%.
The ÁKK had planned to buy back HUF 5 bln of both papers.
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