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 £20.000.000 5,00% Government Registered Development Stock with date of issue 24.4.2005 and maturity in two years.
The total value of the bids submitted was £12.485.900. The competitive bids amounted to £11.420.000 and the non-competitive bids to £1.065.900. All the bids submitted were accepted.
The lowest and highest prices of the competitive bids accepted were £99,80 and £100,10 respectively, for every £100 nominal value, representing annual yields of 5,11% and 4,95% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £1.065.900 were accepted at the weighted average price of the accepted competitive bids. This price was £99,93 per £100 nominal value representing an annual yield of 5,04%.