The Government Debt Management Agency (ÁKK) sold HUF 18 billion of bonds maturing in 2026 at a switch auction on Wednesday, accepting bonds expiring in 2020 as payment, state news agency MTI reported.
The ÁKK sold HUF 18 bln of 2026/D bonds for 2020/B bonds. It had originally offered to sell HUF 20 bln of the 2026/D bonds. Demand from primary dealers came to HUF 22.85 bln for the exchange.
The 2026/D bonds sold at an average yield of 3.33%. The average yield of the 2020/B bonds was 0.99%.
The ÁKK also planned to sell HUF 20 bln of 2028/A bonds for 2020/C bonds, but as bids only reached HUF 5.1 bn, the agency accepted no bids and cancelled the auction.
Of the closest secondary market benchmarks, the three-year benchmark calculated on 2021/C bonds was 1.58%, while the ten-year benchmark calculated on 2027/A bonds was 3.35%.