ÁKK buys back HUF 33.8 bln in bonds at reverse auction
The Government Debt Management Agency (ÁKK) bought back HUF 33.8 bln of bonds before their maturity in 2015 at a reverse auction today. The auction was the second early buyback held since December.
Demand was at a combined HUF 47.8 bln, and offers focused on the bond expiring in August this year. ÁKK accepted offers for the bond expiring in August, but rejected all offers for bonds expiring in February 2016.
ÁKK accepted HUF 33.8 bln of the HUF 41.7 bln bids submitted by primary dealers for the early redemption of 2015/C bonds which mature on August 24, 2015. Average repurchase yield was 1.66%, down 6 bp from the six-month secondary market yield.
ÁKK received HUF 6.11 bln bids for the early redemption of 2016/C bonds of which it did not accept any offers.
ÁKK relaunched the reverse auctions after a two-month break at the beginning of March. The restart suggests that the State Treasuryʼs deposits had been replenished after being reduced by year-end to prevent a rise in the state debt ratio.
Hungary Gasoline Prices 3% Over Regional Avg
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.
