Bank of Canada buys back C$401.17 million bonds in repurchase auction

By Susanna Moon

Chicago, Jan. 18 - Bank of Canada said it bought back C$401,165,000 of four series of bonds in a Tuesday repurchase auction.

The government purchased C$61,165,000 of 1.25% bonds due June 1, 2011, C$110 million of 1.25% bonds due Dec. 1, 2011, C$20 million of 1.5% bonds due March 1, 2012 and C$210 million of 1.5% bonds due June 1, 2012.

The cutoff yield was 1.087 for the 1.25% bonds due June 1, 2011, 1.367 for the 1.25% bonds due Dec. 1, 2011, 1.490 for the 1.5% bonds due March 1, 2012 and 1.587 for the 1.5% bonds due June 1, 2012.

Following settlement on Jan. 20, there will be outstanding C$5,072,260,000 of 1.25% bonds due June 1, 2011, C$8,603,936,000 of 1.25% bonds due Dec. 1, 2011, C$8,756,728,000 of the 1.5% bonds due March 1, 2012 and C$7,135,638,000 of the 1.5% bonds due June 1, 2012.

The government also offered to repurchase 6% bonds due June 1, 2011, 8.5% bonds due June 1, 2011, 1% bonds due Sept. 1, 2011, 3.75% bonds due Sept. 1, 2011, 3.75% bonds due June 1, 2012 and 5.25% bonds due June 1, 2012. None of these bonds was repurchased.

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