An auction was held on 5.10.2006 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 4,25% Government Registered Development Stock, First Series 2006 – Fourth tranche issue, with date of issue 1.2.2006 and maturity in five years.
The total value of the bids submitted was £77.733.500. The competitive bids amounted to £71.095.000 and the non-competitive bids to £6.638.500. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £43.361.500 while the non-competitive bids accepted amounted to £6.638.500.
The lowest and highest prices of the competitive bids accepted were £100,31 and £100,91 respectively for every £100 nominal value of Government Registered Development Stock, representing annual yields of 4,17% and 4,02% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £6.638.500 were allotted at the weighted average price of the competitive bids accepted. This price was £100,56 per £100 nominal value representing an annual yield of 4,11%.