An auction was held on 15.4.2004 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £50.000.000 4,25% Government Registered Development Stock with date of issue 4.1.2004 and maturity in five years.
The total value of the bids submitted was £7.919.100. The competitive bids amounted to £5.556.100 and the non-competitive bids to £2.353.000. All the bids submitted were accepted.
The lowest and highest prices of the competitive bids accepted were £94,86 and £100,00 respectively for every £100 nominal value, representing annual yields of 5,50% and 4,25%, respectively. In accordance with the published terms of the auction, non‑competitive bids amounting to £2.353.000 were accepted at the weighted average price of the accepted competitive bids. This price was £95,58 per £100 nominal value representing an annual yield of 5,32%.