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Bank of Canada buys back C$1 billion of bonds in repurchase auction
By Susanna Moon
Chicago, Jan. 31 - Bank of Canada repurchased C$1 billion of Government of Canada bonds in a repurchase auction on Tuesday.
The bank repurchased
• C$650 million of 2% bonds due Sept. 1, 2012 with a cutoff yield of 0.954%;
• C$100 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 0.967%;
• C$243,225,000 of 3.5% bonds due June 1, 2013 with a cutoff yield of 0.967%; and
• C$6,775,000 of 5.25% bonds due June 1, 2013 with a cutoff yield of 0.971%.
After settlement on Thursday, C$11,665,384,000 of the 2% bonds, C$16,376,269,000 of the 1.75% bonds, C$12,131,112,000 of the 3.5% bonds and C$8,921,626,000 of the 5.25% bonds will remain outstanding.
The bank also offered to repurchase 1.5% bonds due March 1, 2012, 1.5% bonds due June 1, 2012, 3.75% bonds due June 1, 2012, 1.5% bonds due Dec. 1, 2012 and 5.25% bonds due June 1, 2013. None of these bonds were repurchased.
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