An auction was held on 30.5.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £30.000.000 3,75% Government Registered Development Stock with date of issue 2.6.2006 and maturity in two years.
The total value of the bids submitted was £116.387.800. The competitive bids amounted to £92.480.000 and the non-competitive bids to £23.907.800. The total value of bids accepted was £15.500.000. The competitive bids accepted amounted to £8.000.000 while the non-competitive bids accepted amounted to £7.500.000.
The lowest and highest prices of the competitive bids accepted were £100,75 and £100,86, respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 3,36% and 3,30%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £7.500.000 were allotted at the weighted average price of the competitive bids accepted. This price was £100,82 per £100 nominal value representing an annual yield of 3,32%.