An auction was held on 18.4.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £60.000.000 6,00% Government Registered Development Stock with date of issue 20.4.2005 and maturity in ten years.
The total value of the bids submitted was £39.824.500. The competitive bids amounted to £28.313.000 and the non-competitive bids to £11.511.500. The total value of bids accepted was £34.755.500. The competitive bids accepted amounted to £23.244.000 while the non-competitive bids accepted amounted to £11.511.500.
The lowest and highest prices of the competitive bids accepted were £101,12 and £101,50 respectively, for every £100 nominal value, representing annual yields of 5,85% and 5,80% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £11.511.500 were accepted at the weighted average price of the accepted competitive bids. This price was £101,22 per £100 nominal value representing an annual yield of 5,84%.