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ÁKK buys back HUF 59.5 bln of bonds at reverse auction

The Government Debt Management Agency (ÁKK) bought back HUF 59.5 billion of bonds before maturity at a reverse auction on Wednesday. ÁKK bought HUF 15.9 billion of 2014/C bonds, which mature on February 12, 2014, at an average yield of 4.19%, 4bp over the secondary market twelve-month benchmark. Primary dealers offered HUF 27.0 billion of the bonds. ÁKK bought HUF 43.6 billion of 2014/D bonds, which mature on August 22, 2014. Average yield was also 4.19%. Offers came to HUF 66.1 billion. Dealers offered HUF 6.4 billion of 2013/E bonds, but ÁKK accepted none.