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Bank of Canada buys back C$500 million notes in repurchase auction
By Susanna Moon
Chicago, April 5 - Bank of Canada said it bought back C$500 million of Government of Canada notes in a repurchase auction on Tuesday.
The government purchased C$45 million of 1.25% notes due June 1, 2011, C$2 million of the 6% notes due June 1, 2011, C$311 million of the 1% notes due Sept. 1, 2011, C$100 million of the 3.75% notes due Sept. 1, 2011 and C$42 million of the 5.25% notes due June 1, 2012.
The cutoff yield was 0.960% for the 1.25% notes, 0.960% for the 6% notes, 1.053% for the 1% notes, 1.055% for the 3.75% notes and 1.473% for the 5.25% notes.
After settlement on April 7, there will be outstanding C$3,284,541,000 of the 1.25% notes, C$8,498,416,000 of the 6% notes, C$5,963,126,000 of the 1% notes, C$6,028,931,000 of the 3.75% notes and C$9,795,260,000 of the 5.25% notes.
The government also offered to repurchase the 8.5% notes due June 1, 2011, 1.25% notes due Dec. 1, 2011, 1.5% notes due March 1, 2012, 1.5% notes due June 1, 2012 and 3.75% notes due June 1, 2012. None of these notes were repurchased.
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