An auction was held on 18.4.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £70.000.000, fourth 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 £45.869.200. The competitive bids amounted to £24.231.400 and the non-competitive bids to £21.637.800. The total value of bids accepted was £45.164.200. The competitive bids accepted amounted to £23.526.400 while the non-competitive bids accepted amounted to £21.637.800.
The lowest and highest prices of the competitive bids accepted were £99,38 and £100,00 respectively, for every £100 nominal value, representing annual yields of 5,90% and 5,75% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £21.637.800 were accepted at the weighted average price of the accepted competitive bids. This price was £99,50 per £100 nominal value representing an annual yield of 5,87%.