An auction was held on 30.11.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £30.000.000 4,75% Government Registered Development Stock with date of issue 2.12.2005 and maturity in ten years.
The total value of the bids submitted was £125.084.200. The competitive bids amounted to £69.677.100 and the non-competitive bids to £55.407.100. The total value of bids accepted was £15.000.000. The competitive bids accepted amounted to £10.000.000 while the non-competitive bids accepted amounted to £5.000.000.
The lowest and highest prices of the competitive bids accepted were £105,30 and £106,35 respectively, for every £100 nominal value, representing annual yields of 4,10% and 3,97% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £5.000.000 were accepted at the weighted average price of the accepted competitive bids. This price was £105,42 per £100 nominal value representing an annual yield of 4,08%.