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

By Susanna Moon

Chicago, Nov. 15 - Bank of Canada said it bought back C$500 million of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$100 million of 1.25% bonds due Dec. 1, 2011, C$75 million of 1.5% bonds due March 1, 2012 and C$325 million of 2% bonds due Sept. 1, 2012.

The cut-off yield was 0.9% for the 1.25% bonds, 0.905% for the 1.5% bonds and 0.895% for the 2% bonds.

After settlement on Thursday, there will be outstanding C$5,029,132,000 of the 1.25% bonds, C$5,953,135,000 of the 1.5% bonds and C$12,688,337,000 of the 2% bonds.

The bank also offered to repurchase the 1.5% bonds due June 1, 2012, the 3.75% bonds due June 1, 2012, the 5.25% bonds due June 1, 2012 and the 1.5% bonds due Dec. 1, 2012. None of these bonds was repurchased.

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