An auction was held on 28.9.2005 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 4,75% Government Registered Development Stock with date of issue 30.9.2005 and maturity in ten years.
The total value of the bids submitted was £266.315.200. The competitive bids amounted to £160.882.400 and the non-competitive bids to £105.432.800. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £37.500.000 while the non-competitive bids accepted amounted to £12.500.000.
The lowest and highest prices of the competitive bids accepted were £103,88 and £105,33 respectively, for every £100 nominal value, representing annual yields of 4,27% and 4,10% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £12.500.000 were accepted at the weighted average price of the accepted competitive bids. This price was £104,32 per £100 nominal value representing an annual yield of 4,22%.