An auction was held on 22.10.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £10.000.000 4,50% Government Registered Development Stock with date of issue 23.10.2003 and maturity in ten years.
The total value of the bids submitted was £666.500. The competitive bids amounted to £300.000 and the non-competitive bids to £366.500. The total value of the bids accepted was £566.500. The competitive bids amounted to £200.000 while the non-competitive bids accepted amounted to £366.500.
The weighted average price of the competitive bids which were accepted was £98,00 for every £100 nominal value of the Government Registered Development Stock representing an annual yield of 4,75%. The competitive bids amounting to £366.500 were accepted at this price.