The Government Debt Management Agency (ÁKK) sold HUF 37.5 billion of bonds maturing in 2026 and 2028, accepting bonds expiring in 2021 as payment, at a switch auction on Wednesday, state news wire MTI reported.
The ÁKK sold HUF 20 bln of 2026/D bonds for 2021/C bonds, in line with its original offer. Demand from primary dealers came to HUF 84.61 bln for the exchange.
The 2026/D bonds sold at an average yield of 1.67%. The 2021/C bonds used as payment were calculated at a yield of 0.25%.
The ÁKK also sold HUF 17.5 bln of 2028/A bonds for 2021/B bonds, below its original offer of HUF 20 bln. Bids reached HUF 20.36 bln.
The 2028/A bonds sold at an average yield of 1.92%. The yield of the 2021/B bonds was 0.31%.
Of the closest secondary market benchmarks, the three-year benchmark calculated on 2022/C bonds was 0.85%, the five-year benchmark calculated on 2024/C bonds was 1.31%, and the ten-year benchmark calculated on 2030/A bonds was 2.24%.