Auction results of 6,00% GRDS Ten years duration with date of issue 18.11.2004 (Third Series dated 18.11.2004)

An auction was held on 17.11.2004 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £20.000.000 6,00% Government Registered Development Stock with date of issue 18.11.2004 and maturity in ten years.

The total value of the bids submitted was £28.436.100. The competitive bids amounted to £27.279.600 and the non-competitive bids to £1.156.500. The total value of bids accepted was £20.000.000. The competitive bids accepted amounted to £18.843.500 while the non-competitive bids accepted amounted to £1.156.500.

The lowest and highest prices of the competitive bids accepted were £96,80 and £100,00 respectively, for every £100 nominal value, representing annual yields of 6,44% and 6,00% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £1.156.500 were accepted at the weighted average price of the accepted competitive bids. This price was £98,01 per £100 nominal value representing an annual yield of  6,27%.