BUDAPEST: The Government Debt Management Agency (ÁKK) exchanged HUF 14.5 bln of bonds maturing in 2024 and 2028 for ones that expire in 2017 at a switch auction on Wednesday, under the HUF 50 bln plan.
ÁKK exchanged HUF 10 bln of 2024/B bonds for 2017/B bonds and a further HUF 4.5 bln of the 2028/A bonds for 2017/A bonds. Bids by primary dealers reached HUF 12.3 bln for the 2017/B bond exchange and HUF 6 bln for the 2017/A exchange.
ÁKK had planned to exchange HUF 25 bln of each of the shorter terms.
