An auction was held on 28.4.2004 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £50.000.000 4,25% Government Registered Development Stock with date of issue 4.1.2004 and maturity in five years.
The total value of the bids submitted was £7.686.600. The competitive bids amounted to £7.179.300 and the non-competitive bids to £507.300. All the bids submitted were accepted.
The lowest and highest prices of the competitive bids accepted were £93,33 and £94,90, respectively, for every £100 nominal value, representing annual yields of 5,90% and 5,50%, respectively. In accordance with the published terms of the auction, non‑competitive bids amounting to £507.300 were accepted at the weighted average price of the accepted competitive bids. This price was £94,15 per £100 nominal value representing an annual yield of 5,69%.