An auction was held on 26.9.2007 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £30.000.000 4,50% Government Registered Development Stock with date of issue 28.9.2007 and maturity in ten years.
The total value of the bids submitted was £12.970.200. The competitive bids amounted to £7.325.000 and the non-competitive bids to £5.645.200. The total value of bids accepted was £10.420.200. The competitive bids accepted amounted to £4.775.000 while the non-competitive bids accepted amounted to £5.645.200.
The lowest and highest prices of the competitive bids accepted were £98,81 and £101,12 respectively for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,65% and 4,36% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £5.645.200 were allotted at the weighted average price of the competitive bids accepted. This price was £99,23 per £100 nominal value representing an annual yield of 4,60%.