An auction was held on 19.1.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £60.000.000, second tranche issue 5,75% Government Registered Development Stock with date of issue 3.1.2005 and maturity in five years.
The total value of the bids submitted was £59.000.800. The competitive bids amounted to £47.853.500 and the non-competitive bids to £11.147.300. The total value of bids accepted was £48.307.300. The competitive bids accepted amounted to £37.160.000 while the non-competitive bids accepted amounted to £11.147.300.
The lowest and highest prices of the competitive bids accepted were £98,72 and £99,03, respectively, for every £100 nominal value, representing annual yields of 6,05% and 5,98% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £11.147.300 were accepted at the weighted average price of the accepted competitive bids. This price was £98,90 per £100 nominal value representing an annual yield of 6,01%.