An auction was held on 13.2.2007 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 15.2.2007 and maturity in ten years.
The total value of the bids submitted was £97.008.300. The competitive bids amounted to £96.060.300 and the non-competitive bids to £948.000. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £49.052.000 while the non-competitive bids accepted amounted to £948.000.
The lowest and highest prices of the competitive bids accepted were £99,78 and £102,00 respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,53% and 4,25%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £948.000 were allotted at the weighted average price of the competitive bids accepted. This price was £100,27 per £100 nominal value representing an annual yield of 4,47%.