Sale of GRDS by Auction Issue of First Tranche of Series 2003 5,10% 15-year Stock

The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £20.000.000 5,10% Government Registered Development Stock with date of issue 29th January, 2003 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 17th January, 2003.

Government Registered Development Stocks (GRDS) offered by auction are issued in series. For 15-year GRDS, Series 2003 5,10% GRDS maturing in 2018 is offered, which will be effected in tranches that will take place during 2003.

The issue of the First Tranche of Series 2003 5,10% 15-year GRDS will take place on 29th January, 2003 - being the date of issue of the Series. The auction will take place on  Tuesday 28th January, 2003. 

Bids  in  the prescribed   form for the 15-year stock will  be  accepted from 24th January, 2003 until 9.00 a.m. of  28th January, 2003. Only forms designed for the First 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.