An auction was held on 30.12.2002 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £40.000.000 4,25% Government Registered Development Stock with date of issue 1.1.2003 and repayment in two years.
The total value of the bids submitted was £110.025.000. The competitive bids amounted to £95.025.000 and the non-competitive bids to £15.000.000. The total value of bids accepted was £25.000.000. The competitive bids accepted amounted to £10.000.000 while the non-competitive bids accepted amounted to £15.000.000.
In accordance with the terms of the auction the non‑competitive bids amounting to £15.000.000 were accepted at the average weighted price of the accepted competitive bids. This price was £100,29 per £100 nominal value representing an annual yield of 4,10%.