An auction was held on 28.3.2006 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 30.3.2006 and maturity in ten years.
The total value of the bids submitted was £107.763.000. The competitive bids amounted to £103.010.000 and the non-competitive bids to £4.753.000. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £45.247.000 while the non-competitive bids accepted amounted to £4.753.000.
The lowest and highest prices of the competitive bids accepted were £102,77 and £105,50 respectively, for every £100 nominal value, representing annual yields of 4,16% and 3,83% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £4.753.000 were allotted at the weighted average price of the competitive bids accepted. This price was £103,51 per £100 nominal value representing an annual yield of 4,07%.