Auction Results of Treasury Bills Issued on 19/03/2003

An auction was held on 19.3.2003 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 19.3.2003 and 52 weeks maturity.

The total value of the bids submitted was £93.000.000. The competitive bids amounted to £80.000.000 and the non-competitive bids to £13.000.000.  The total value of bids accepted was £40.000.000. The competitive bids accepted amounted to £27.000.000, while the non-competitive bids accepted amounted to £13.000.000.

The lowest and highest prices of the competitive bids accepted were £963,44 and £963,52 respectively for every £1000 nominal value, representing annual yields of 3,81% and 3,80% respectively. In accordance with the terms of the auction the non‑competitive bids amounting to £13.000.000 were accepted at the average weighted price of the accepted competitive bids. This price was £963,45 per £100 nominal value representing an annual yield of 3,81%.