An auction was held on 17.11.2004 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £50.000.000, sixth tranche issue 5,75% Government Registered Development Stock with date of issue 24.6.2004 and maturity in five years.
The total value of the bids submitted was £47.469.600. The competitive bids amounted to £33.553.800 and the non-competitive bids to £13.915.800. The total value of bids accepted was £46.256.600. The competitive bids accepted amounted to £32.340.800 while the non-competitive bids accepted amounted to £13.915.800.
The lowest and highest prices of the competitive bids accepted were 97,83 and £99,10, respectively, for every £100 nominal value, representing annual yields of 6,30% and 5,98% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £13.915.800 were accepted at the weighted average price of the accepted competitive bids. This price was £98,13 per £100 nominal value representing an annual yield of 6,22%.