An auction was held on 21.6.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £50.000.000 4,25% Government Registered Development Stock, First Series 2006 – Third tranche issue, with date of issue 1.2.2006 and maturity in five years.
The total value of the bids submitted was £84.793.600. The competitive bids amounted to £70.893.600 and the non-competitive bids to £13.900.000. The total value of bids accepted was £50.000.000. The competitive bids accepted amounted to £37.500.000 while the non-competitive bids accepted amounted to £12.500.000.
The lowest and highest prices of the competitive bids accepted were £101,27 and £102,62 respectively for every £100 nominal value of Government Registered Development Stock, representing annual yields of 3,95% and 3,63% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £12.500.000 were allotted at the weighted average price of the competitive bids accepted. This price was £101,57 per £100 nominal value representing an annual yield of 3,87%.