Sale of GRDS by Auction Issue of First Tranche of series 2003 4,25% 5-year Stock

The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £55.000.000 4,25% Government Registered Development Stock with date of issue 23rd April, 2003 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 Friday 18th April,2003.

Government Registered Development Stocks (GRDS) offered by auction are issued in series. For 5-year GRDS, Series 2003 4,25% GRDS maturing in 2008 is offered, which will be effected in tranches that will take place during 2003.

The issue of the First Tranche of Series 2003 4,25% 5-year GRDS will take place on 23rd April, 2003 - being the date of issue of the Series. The auction will take place on  Tuesday 22nd April, 2003. 

Bids   in  the  prescribed  form  for  the  5-year  stock  will  be  accepted  from  18th April, 2003 until 9.00 a.m. of 22nd April, 2003. 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.