An auction was held on 13.2.2007 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £50.000.000 3,75% Government Registered Development Stock with date of issue 15.2.2007 and maturity in two years.
The total value of the bids submitted was £75.000.000. The competitive bids amounted to £64.000.000 and the non-competitive bids to £11.000.000. The total value of bids accepted was £35.000.000. The competitive bids accepted amounted to £24.000.000 while the non-competitive bids accepted amounted to £11.000.000.
The lowest and highest prices of the competitive bids accepted were £99,25 and £100,63 respectively, for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,14% and 3,42%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £11.000.000 were allotted at the weighted average price of the competitive bids accepted. This price was £99,46 per £100 nominal value representing an annual yield of 4,03%.