An auction was held on 29.3.2007 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £50.000.000 4,50% Government Registered Development Stock with date of issue 2.4.2007 and maturity in ten years.
The total value of the bids submitted was £127.034.700. The competitive bids amounted to £104.723.700 and the non-competitive bids to £22.311.000. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £37.500.000 while the non-competitive bids accepted amounted to £12.500.000.
The lowest and highest prices of the competitive bids accepted were £100,26 and £101,61 respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,47% and 4,30%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £12.500.000 were allotted at the weighted average price of the competitive bids accepted. This price was £100,50 per £100 nominal value representing an annual yield of 4,44%.