Bank of Canada buys back C$500 million bonds in repurchase auction

By Susanna Moon

Chicago, April 17 - Bank of Canada bought back C$500 million of Government of Canada bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.

The bank repurchased C$10 million of its 1.5% bonds due June 1, 2012 with a cutoff yield of 0.995%, C$25 million of its 3.75% bonds due June 1, 2012 with a cutoff yield of 0.991% and C$465 million of its 1.5% bonds due Dec. 1, 2012 with a cutoff yield of 1.145%.

After settlement on Thursday, C$3,186,366,000 of the 1.5% bonds due June 1, 2012, C$4,715,988,000 of the 3.75% bonds and C$12,272,171,000 of the 1.5% bonds due Dec. 1, 2012 will remain outstanding.

The bank also offered to repurchase 5.25% bonds due June 1, 2012, the 2% bonds due Sept. 1, 2012, the 1.75% bonds due March 1, 2013, 3.5% bonds due June 1, 2013 and the 5.25% bonds due June 1, 2013. None of those bonds were purchased.

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