An auction was held on 24.2.2005 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £80.000.000, third 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 £57.407.000. The competitive bids amounted to £38.691.900 and the non-competitive bids to £18.715.100. The total value of bids accepted was £55.337.000. The competitive bids accepted amounted to £36.621.900 while the non-competitive bids accepted amounted to £18.715.100.
The lowest and highest prices of the competitive bids accepted were £98,94 and £99,24 respectively, for every £100 nominal value, representing annual yields of 6,00% and 5,93% respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £18.715.100 were accepted at the weighted average price of the accepted competitive bids. This price was £99,07 per £100 nominal value representing an annual yield of 5,97%.