The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £10.000.000 5,60% Government Registered Development Stock with date of issue 15th April, 2002 and repayment at par in fifteen years. Details about the auction are published in the form of an Announcement in the Official Gazette of the Republic on Friday 4th October, 2002.
Government Registered Development Stocks (GRDS) offered by auction are issued in series. For 15-year GRDS, Series 2002 5,60% GRDS maturing in 2017 is offered, which will be effected in tranches that will take place during 2002.
The issue of the First Tranche of Series 2002 5,60% 15-year GRDS took place on 15th April, 2002 - being the date of issue of the Series – and the issue of the Second Tranche for up to the amount of £10.000.000, as mentioned above, will be on 15th October, 2002. The auction will take place on 14th of October, 2002.
Bids in the prescribed form for the 15-year stock will be accepted from 10th October, 2002 until 9.00 a.m. of 14th October, 2002. Only forms designed for the Second Tranche Issue should be used. Application forms for the submission of bids and copies of the Announcement on the auction procedures and Terms of Issue for 15 year GRDS can be obtained from the Securities Section of the Central Bank of Cyprus.