An auction was held on 30.1.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £50.000.000 first tranche issue 4,25% Government Registered Development Stock with date of issue 1.2.2006 and maturity in five years.
The total value of the bids submitted was £171.364.700. The competitive bids amounted to £137.104.000 and the non-competitive bids to £34.260.700. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £37.500.000 while the non-competitive bids accepted amounted to £12.500.000.
The lowest and highest prices of the competitive bids accepted were £102,55 and £102,76, respectively, for every £100 nominal value, representing annual yields of 3,69% and 3,64%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £12.500.000 were allotted at the weighted average price of the competitive bids accepted. This price was £102,62 per £100 nominal value representing an annual yield of 3,67%.