An auction was held on 5.10.2006 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 9.10.2006 and maturity in ten years.
The total value of the bids submitted was £70.622.500. The competitive bids amounted to £63.678.000 and the non-competitive bids to £6.944.500. The total value of bids accepted was £30.000.000. The competitive bids accepted amounted to £23.055.500 while the non-competitive bids accepted amounted to £6.944.500.
The lowest and highest prices of the competitive bids accepted were £101,29 and £102,20, respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,34% and 4,23%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £6.944.500 were allotted at the weighted average price of the competitive bids accepted. This price was £101,90 per £100 nominal value representing an annual yield of 4,26%.