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AKK buys back HUF 14.5 bln of bonds at reverse auction

The Government Debt Management Agency (AKK) sold a combined HUF 14.5 billion of 2012/B and 2012/C bonds before maturity at a repurchase auction on Wednesday.

AKK bought HUF 12.6 billion of the 2012/B bonds which mature on June 12, 2012. Primary dealers offered to sell back HUF 15.7 billion. Average yield was 7.35% , 15bp over the three-month secondary-market benchmark.

AKK bought back just HUF 1.9 billion of the HUF 11.4 billion of 2012/C bonds offered by dealers. Average yield on the bonds, which mature on October 24, 2012, was 7.50% , 15bp over the six-month secondary-market benchmark.