An auction was held on 7.6.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £40.000.000 first tranche issue 5,00% Government Registered Development Stock with date of issue 9.6.2005 and maturity in five years.
The total value of the bids submitted was £148.171.100. The competitive bids amounted to £81.508.100 and the non-competitive bids to £66.663.000. The total value of bids accepted was £40.000.000. The competitive bids accepted amounted to £30.000.000 while the non-competitive bids accepted amounted to £10.000.000.
The lowest and highest prices of the competitive bids accepted were £100,49 and £100,93 respectively, for every £100 nominal value, representing annual yields of 4,89% and 4,79% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £10.000.000 were accepted at the weighted average price of the accepted competitive bids. This price was £100,71 per £100 nominal value representing an annual yield of 4,84%.