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 £30.000.000 3,75% Government Registered Development Stock with date of issue 23.10.2003 and maturity in two years.
The total value of the bids submitted was £3.200.000. The competitive bids amounted to £3.000.000 and the non-competitive bids to £200.000. The total value of bids accepted was £2.200.000. The ψompetitive bids accepted amounted to £2.000.000 while the non-competitive bids accepted amounted to £200.000.
The lowest and highest prices of the competitive bids accepted were £99,81 and £100,02 respectively for every £100 nominal value, representing annual yields of 3,85% and 3,74% respectively. In accordance with the published terms of the auction, non‑competitive bids amounting to £200.000 were accepted at the weighted average price of the accepted competitive bids. This price was £99,92 per £100 nominal value representing an annual yield of 3,79%.