The Government Debt Management Agency (ÁKK) sold HUF 35.5 billion of bonds maturing in 2026 and 2028, accepting securities expiring in 2020 as payment, at a switch auction on Wednesday, state news wire MTI reported.
The ÁKK sold HUF 15.5 bln of 2026/D bonds for 2020/C bonds, below its original HUF 20 bln offer. Demand from primary dealers came to HUF 44.83 bln for the exchange.
The 2026/D bonds sold at an average yield of 2.55%. The average yield of the 2020/C bonds was a negative 0.02%.
The ÁKK also sold HUF 20 bln of 2028/A bonds for 2020/A bonds, in line with its original offer. Bids reached HUF 34.18 bln.
The 2028/A bonds sold at an average yield of 2.83%. The average yield of the 2020/A bonds was 0.01%.
Of the closest secondary market benchmarks, the five-year benchmark calculated on 2024/C bonds was 2.12%, while the ten-year benchmark calculated on 2030/A bonds was 3.17%.