An auction was held on 29.12.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £100.000.000 4,50% Government Registered Development Stock with date of issue 2.1.2006 and maturity in ten years.
The total value of the bids submitted was £248.448.800. The competitive bids amounted to £223.476.200 and the non-competitive bids to £24.972.600. The total value of bids accepted was £60.056.800. The competitive bids accepted amounted to £35.084.200 while the non-competitive bids accepted amounted to £24.972.600.
The lowest and highest prices of the competitive bids accepted were £104,21 and £105,50 respectively, for every £100 nominal value, representing annual yields of 3,99% and 3,83% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £24.972.600 were allotted at the weighted average price of the competitive bids accepted. This price was £104,46 per £100 nominal value representing an annual yield of 3,96%.