The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £40.000.000 5,00% Government Registered Development Stock with date of issue 9 June, 2005 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 3 June, 2005.
Government Registered Development Stocks (GRDS) offered by auction are issued in series. For 5-year GRDS, First Series (2005-2010) 5,00% GRDS is offered, which will be effected in tranches. The issue of the First Tranche will take place on 9 June, 2005.
The auction will take place on Tuesday 7 June, 2005. Bids on the prescribed form for the 5-year stock will be accepted from 3 June, 2005 until 9.00 a.m. of 7 June, 2005. Only forms designed for the First Tranche Issue should be used. Application forms for the submission of bids and copies of the Announcement on the auction procedures and Terms of Issue for 5-year GRDS can be obtained from the Securities Section of the Central Bank of Cyprus.