An auction was held on 7.7.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £60.000.000 4,50% Government Registered Development Stock with date of issue 11.7.2006 and maturity in ten years.
The total value of the bids submitted was £74.001.000. The competitive bids amounted to £69.095.000 and the non-competitive bids to £4.906.000. The total value of bids accepted was £60.000.000. The competitive bids accepted amounted to £55.094.000 while the non-competitive bids accepted amounted to £4.906.000.
The lowest and highest prices of the competitive bids accepted were £100,64 and £103,67, respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,42% and 4,05%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £4.906.000 were allotted at the weighted average price of the competitive bids accepted. This price was £101,80 per £100 nominal value representing an annual yield of 4,28%.