An auction was held on 25.2.2004 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £20.000.000 4,60% Government Registered Development Stock with date of issue 26.2.2004 and maturity in fifteen years.
The total value of the bids submitted was £2.205.000. The competitive bids amounted to £700.000 and the non-competitive bids to £1.505.000. All bids submitted were accepted.
The lowest and highest prices of the competitive bids accepted were £89,00 and £91,00 respectively for every £100 nominal value, representing annual yields of 5,70% and 5,49% respectively. In accordance with the published terms of the auction non‑competitive bids amounting to £1.505.000 were accepted at the weighted average price of the accepted competitive bids. This price was £90,29 per £100 nominal value representing an annual yield of 5,56%.