Bank of Canada buys back C$234.8 million bonds in repurchase auction

By Jennifer Chiou

Prospect News, Nov. 9 - Bank of Canada said it bought back a total of C$234.8 million of bonds in a Tuesday repurchase auction.

The buybacks included C$209.8 million of its 2.75% bonds due Dec. 1, 2010 and C$25 million of its 1% bonds due Sept. 1, 2011,

The cutoff yield was 0.891% for the 2.75% bonds and 1.204% for the 1% bonds.

Following settlement on Nov. 10, there will be C$6,621,302,000 of the 2.75% bonds outstanding in addition to C$7,540,895,000 of the 1% bonds.

The government also offered to repurchase its C$9,309,869,000 of 6% bonds due June 1, 2011, C$5,888,000,000 of 1.25% bonds due June 1, 2011, C$606,151,000 of 8.5% bonds due June 1, 2014, C$6,604,562,000 of 3.75% bonds due Sept. 1, 2011 and C$8,910,405,000 of 1.25% bonds due Dec. 1, 2011. None of these bonds was repurchased.

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