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ÁKK to introduce 20-year benchmark bond, new index

Hungaryʼs Government Debt Management Agency (ÁKK) said on Thursday it will launch a new, 20-year benchmark bond as well as a new, long-term government bond index in January, state news wire MTI reports.

The new 20-year benchmark bond will be the fifth, at the same time the longest benchmark bond in addition to the present three-, five-, 10 and 15-year ones.

ÁKK also calculates and publishes daily three-, six- and twelve months benchmark rates.

ÁKK schedules to auction its first 20-year bond on January 16, and plans to auction them in every eight weeks. It will be displayed among benchmarks from the second auction.

The 2041 bond will have a fixed rate and will expire on April 25, 2041.

In a parallel move, the debt manager will create a new long-term bond index under the name HMAX which will include bonds with a term in excess of three years.