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ÁKK accepts only third of Ft 49 bln offers at bond repurchase auction

The State Debt Management Agency (ÁKK) accepted just Ft 14.63 billion of Ft 49.27 billion in offers on Wednesday for the repurchase of securities a little more than six months before maturity. ÁKK invites the reverse auctions without any limit on prices or yields. ÁKK accepted Ft 12.24 billion of Ft 31.94 billion in offers for the 2006/F bond, which matures on April 12, 2006. Average yield at the auction was 5.83%. After ÁKK pays for the bonds, Ft 411.2 billion will remain outstanding. ÁKK accepted Ft 2.39 billion of Ft 17.33 billion in offers for the five-year 2006/E bond, which matures on May 12, 2006. Average yield at the auction was also 5.83%. After ÁKK pays for the bonds, Ft 302.82 billion will remain outstanding.