BUDAPEST: The Government Debt Management Agency (ÁKK) exchanged HUF 16 bln of bonds maturing in 2024 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 50 bln plan.
ÁKK exchanged HUF 4.5 bln of 2024/B bonds for 2017/A bonds and a further HUF 11.5 bln of the 2024/B bonds for 2017/B bonds. Bids by primary dealers reached HUF 6 bln for the 2017/A bond exchange and HUF 23.3 bln for the 2017/B exchange. ÁKK had planned to exchange HUF 25 bln of each of the shorter terms.
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