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AKK buys back HUF 7.7 billion of bonds at reverse auction

The Government Debt Management Agency (AKK) repurchased two bonds worth a combined HUF 7.7 billion before maturity at a reverse auction on Wednesday. AKK repurchased HUF 6.1 billion of 2011/C bonds at the auction. Primary dealers offered HUF 8.2 billion of the papers which mature on April 22, 2011. Average yield was 5.62%, 7bp over the yield of the six-month the secondary market benchmark which matures on April 6, 2011. AKK accepted just HUF 1.6 billion of HUF 7.0 billion in offers for the 2011/A bond, which matures on February 12, 2011. Average yield was 5.56%, 14bp over the yield of the three-month secondary market benchmark, which matures on January 26, 2011. (MTI-Econews)