An auction was held on 30.5.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £30.000.000 4,50% Government Registered Development Stock with date of issue 2.6.2006 and maturity in ten years.
The total value of the bids submitted was £36.256.000. The competitive bids amounted to £30.466.000 and the non-competitive bids to £5.790.000. The total value of bids accepted was £10.196.000. The competitive bids accepted amounted to £4.406.000 while the non-competitive bids accepted amounted to £5.790.000.
The lowest and highest prices of the competitive bids accepted were £103,00 and £104,09, respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,13% and 4,00%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £5.790.000 were allotted at the weighted average price of the competitive bids accepted. This price was £103,83 per £100 nominal value representing an annual yield of 4,03%.