An auction was held on 14.7.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £30.000.000 3,75% Government Registered Development Stock with date of issue 15.7.2003 and maturity in two years.
The total value of the bids submitted was £15.075.000. The competitive bids amounted to £15.000.000 and the non-competitive bids to £75.000. All bids were accepted.
The lowest and highest prices of the competitive bids accepted were £100,11 and £100,13 respectively for every £100 nominal value, representing annual yields of 3,69% and 3,68% respectively. In accordance with the published terms of the auction non‑competitive bids amounting to £75.000 were accepted at the weighted average price of the accepted competitive bids. This price was £100,12 per £100 nominal value representing an annual yield of 3,69%.