No bids accepted at Cyprus bond auctions

The Central Bank of Cyprus, acting on behalf of the government of Cyprus held an auction for 10-year maturing bonds as well as a Treasury Bills auction with 13 weeks maturity, for which it received bids, but decided not to accept any. For the 10-year bond, with a coupon of 4.5% and for up to CYP 50 mln, the total value of the bids amounted to CYP 15.776.800. The competitive bids amounted to CYP11.870.000 and the non-competitive bids to CYP3.906.800. None of the bids submitted was accepted.

An auction was held on 27.6.2007 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of up to CYP50 mln Treasury Bills with date of issue 28.6.2007 and 13 weeks maturity.
The total value of the bids submitted was CYP22.500.000. The competitive bids amounted to CYP20 mln and the non-competitive bids to CYP2.500.000.  None of the bids submitted was accepted.