Sale of Government Registered Development Stock by Auction. Issue of First Series 2005 5,75% 5-year Stock

The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £50.000.000 5,75% Government Registered Development Stock with date of issue 3^rd  January, 2005 and repayment at par in five years. Details about the auction are published in the form of an Announcement in the Official Gazette of the Republic on 23^rd December, 2004.

Government Registered Development Stocks (GRDS) offered by auction are issued in series.  For 5-year GRDS, First Series 2005 5,75% GRDS maturing in 2010 is offered, which will be effected in tranches. The issue of the First Tranche of First  Series 2005 5,75% 5-year GRDS will take place on 3^rd January, 2005 – being the issue date of the Series - for an amount up to £50.000.000, as mentioned above. The auction will take place on Wednesday, 29^th December, 2004.  

Bids in the prescribed form for the 5-year stock will be accepted from 27^th December, 2004 until 9.00 a.m. of 29^th December, 2004. Only forms designed for the First Tranche Issue should be used. Application forms for the submission of bids and copies of the Announcement on the auction procedures and Terms of Issue for 5‑year GRDS can be obtained from the Securities Section of the Central Bank of Cyprus.