An auction was held on 2.1.2007 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £50.000.000 Treasury Bills with date of issue 3.1.2007 and 13 weeks maturity.
The total value of the bids submitted was £125.000.000. The competitive bids amounted to £109.000.000 and the non-competitive bids to £16.000.000. 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 £991,00 and £991,36 respectively for every £1.000 nominal value of Treasury Bills, representing annual yields of 3,64% and 3,50% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £12.500.000 were allotted at the weighted average price of the competitive bids accepted. This price was £991,11 per £1.000 nominal value representing an annual yield of 3,60%.