The Government Debt Management Agency (ÁKK) sold HUF 19.5 billion of bonds maturing in 2026 and 2028, accepting bonds expiring in 2021 as payment, at a switch auction on Wednesday.
The ÁKK sold HUF 10 bln of 2026/D bonds for 2021/C bonds, below its original offer of HUF 20 bln. Demand from primary dealers came to HUF 12.42 bln for the exchange.
The 2026/D bonds sold at an average yield of 2.07%. The average yield of the 2021/C bonds was 0.37%.
The ÁKK also sold HUF 9.5 bln of 2028/A bonds for 2021/B bonds, also below its original offer of HUF 20 bln, after bids reached HUF 15.55 bln.
The 2028/A bonds sold at an average yield of 2.37%. The average yield of the 2021/B bonds was 0.54%.
Of the closest secondary market benchmarks, the three-year benchmark calculated on 2022/C bonds was 0.89%, the five-year benchmark calculated on 2024/C bonds was 1.53%, and the ten-year benchmark calculated on 2030/A bonds was 2.61%.