ÁKK sells HUF 20 bln of bonds at switch auction, below plan

Debt

The Government Debt Management Agency (ÁKK) sold HUF 20 billion of bonds maturing in 2028 at a switch auction on Wednesday, accepting bonds expiring in 2021 as payment, according to state news wire MTI.

The ÁKK sold HUF 20 bln of 2028/A bonds for 2021/C bonds, in line with its original offer. Bids reached HUF 26.15 bln.

The 2028/A bonds sold at an average yield of 2.74%. The average yield of the 2021/C bonds was 0.37%.

The ÁKK also tried to sell HUF 20 bln of 2026/D bonds for 2020/C bonds, but after receiving only HUF 21.30 bln of bids, it cancelled the auction.

Of the closest secondary market benchmarks, the five-year benchmark calculated on 2024/C bonds was 1.99%, while the ten-year benchmark calculated on 2030/A bonds was 3.09%.

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya Analysis

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.