Hungary buys back EUR 47.2mn worth of bonds ahead of maturity.

By bne IntelliNews July 26, 2012
Hungary's state debt manager AKK has bought back HUF 13.6bn (EUR 47.2mn) worth of fixed-rate bonds ahead of their maturity, the authority said on its website. AKK repurchased HUF 435mn of bonds, maturing on February 12, 2013, which was considerably below the HUF 2.3bn offer of the dealers. The average yield was 6.95%, which is 22bps below the level reached at the previous reverse auction on July 11 but 4bps over the three-month secondary benchmark fixing. The debt manager bought back also HUF 13.2bn worth of bonds, which mature on October 24, 2013. Dealers submitted bids totalling HUF 14.1bn, while the average yield was 6.89%, up by 1bps from the twelve-month secondary benchmark fixing.
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