Auction Results of Treasury Bills with date of issue 12.1.2004 and 52 weeks maturity

An auction was held on 12.1.2004 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 Treasury Bills with date of issue 12.1.2004 and 52 weeks maturity.

The total value of the bids submitted was £35.040.000. The competitive bids amounted to £30.000.000 and the non-competitive bids to £5.040.000. All bids submitted were accepted.  

The lowest and highest prices of the competitive bids accepted were £961,28 and £962,65 respectively for every £1.000 nominal value, representing annual yields of 4,05% and 3,90% respectively. In accordance with the published terms of the auction non-competitive bids amounting to £5.040.000 were accepted at the  weighted average price of the accepted competitive bids.  This price was £962,20 per £1.000 nominal value representing an annual yield of  3,95%.