An auction was held on 19.11.2003 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 4,25% Government Registered Development Stock with date of issue 28.8.2003 and maturity in five years.
The total value of the bids submitted was £15.424.100. The competitive bids amounted to £10.640.400 and the non-competitive bids to £4.783.700. All bids were accepted.
The lowest and highest prices of the competitive bids accepted were £98,30 and £99,00 respectively for every £100 nominal value, representing annual yields of 4,65% and 4,48% respectively. In accordance with the published terms of the auction, non‑competitive bids amounting to £4.783.700 were accepted at the weighted average price of the accepted competitive bids. This price was £98,68 per £100 nominal value representing an annual yield of 4,56%.