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ÁKK buys back bonds worth Ft 14.1 bln at reverse auction

The State Debt Management Center (ÁKK) accepted just Ft 14.1 billion of offers worth Ft 93 billion by primary dealers to sell back bonds before maturity at a reverse auction on Wednesday.

The ÁKK accepted just one of 17 offers to sell back 2007/F bonds, which mature on April 12, 2007. The single offer was for Ft 1 billion compared to total offers for the bonds worth Ft 25.7 billion. The yield was 8.15%, 4bp more than the yield at the previous reverse auction for the bonds on August 30. 2007/F bonds worth Ft 252.3 billion will remain outstanding after the auction.
The ÁKK accepted offers worth Ft 13.1 billion to buy back 2007/D bonds which mature on June 12, 2007. Total offers for the bills came to Ft 67.3 billion. Average yield at the auction was 8.21%.
The repurchase yields compared to a six-month secondary market benchmark yield of 8% and a twelve-month benchmark of 8.07% on Tuesday.