The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £60.000.000 4,75% Government Registered Development Stock with date of issue 1st January, 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 20th December, 2002.
Government Registered Development Stocks (GRDS) offered by auction are issued in series. For 5-year GRDS, Series 2003 4,75% 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 4,75% 5-year GRDS will take place on 1st January, 2003 - being the date of issue of the Series. The auction will take place on Monday 30th December, 2002.
Bids in the prescribed form for the 5-year stock will be accepted from 24th December, 2002 until 9.00 a.m. of 30th December, 2002. 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.