An auction was held on 28.3.2006 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to £150.000.000 second tranche issue 4,25% Government Registered Development Stock with date of issue 1.2.2006 and maturity in five years.
The total value of the bids submitted was £200.638.200. The competitive bids amounted to £169.357.400 and the non-competitive bids to £31.280.800. The total value of bids accepted was £150.000.000. The competitive bids accepted amounted to £118.719.200 while the non-competitive bids accepted amounted to £31.280.800.
The lowest and highest prices of the competitive bids accepted were £101,63 and £102,75, respectively, for every £100 nominal value, representing annual yields of 3,88% and 3,62%, respectively. In accordance with the published terms of the auction, non-competitive bids amounting to £31.280.800 were allotted at the weighted average price of the competitive bids accepted. This price was £102,34 per £100 nominal value representing an annual yield of 3,72%.