The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £50.000.000 4,25% Government Registered Development Stock (GRDS) with date of issue 1 February, 2006 and repayment at par in five years. Details about the auction are published in the form of an Announcement in the Official Gazette of the Republic on 20 January, 2006.
Note that 5-year GRDS issues are effected in tranches. The issue date of the First Tranche of the 4,25% GRDS, First Series (2006-2011), is 1 February, 2006, which is also the date of issue of the Series.
The auction will take place on Monday 30 January, 2006. Bids on the prescribed form for 5-year stock will be accepted from 26 January, 2006 and not later than 9:00 a.m. on 30 January, 2006. Application forms, for the submission of bids, and copies of the Announcement on the auction procedures and Terms of Issue for the Stock can be obtained from the Securities Section of the Central Bank of Cyprus.