An auction was held on 2.1.2007 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 4,25% Government Registered Development Stock, First Series 2007 – First tranche issue, with date of issue 4.1.2007 and maturity in five years.
The total value of the bids submitted was £130.779.900. The competitive bids amounted to £107.325.000 and the non-competitive bids to £23.454.900. 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 £99,96 and £100,32 respectively for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,26% and 4,18% 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 £100,13 per £100 nominal value representing an annual yield of 4,22%.