ÁKK switches HUF 75 bln short-term bonds to long-term at auction
The Government Debt Management Agency (ÁKK) sold primary dealers of government securities HUF 75 bln of bonds maturing in 2020 for bonds that run until 2016 and 2017 at a switch auction on Wednesday; HUF 25 bln less than planned.
The yields of the switch auctions exceeded the five-year yield on the secondary market.
ÁKK sold HUF 45 bln of 2020/A bonds for 2016/D bonds, HUF 5 bln less than the original offer after receiving bids for HUF 67.3 bln. Average auction yield was 2.43%.
ÁKK sold HUF 30 bln of 2020/A bonds for payments with 2017/B bonds, less than the HUF 50 bln original offer. Bids reached HUF 43.3 bln. Average auction yield was 2.44%.
ÁKK calculated 2016/D bonds as payment at a yield of 1.14% and accepted 2017/B bonds at a yield of 1.37%.
The yield of the bonds sold at the switch auction compare to a five-year secondary market yield of 2.34%.
Watchdog Fines UniCredit Bank Hungary for Regulatory Shortfa...
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
