An auction was held on 18.4.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £50.000.000, fourth tranche issue 6,10% Government Registered Development Stock with date of issue 20.4.2005 and maturity in fifteen years.
The total value of the bids submitted was £130.711.500. The competitive bids amounted to £118.720.000 and the non-competitive bids to £11.991.500. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £38.008.500 while the non-competitive bids accepted amounted to £11.991.500.
The lowest and highest prices of the competitive bids accepted were £99,03 and £100,98 respectively, for every £100 nominal value, representing annual yields of 6,20% and 6,00% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £11.991.500 were accepted at the weighted average price of the accepted competitive bids. This price was £99,33 per £100 nominal value representing an annual yield of 6,17%.