Bank of Canada buys back C$985.18 million bonds in repurchase auction

By Susanna Moon

Chicago, May 10 - Bank of Canada said it bought back C$985,184,000 of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$3.66 million of 1.25% bonds due June 1, 2011, C$607,524,000 of 1% bonds due Sept. 1, 2011, C$57 million of 1.5% bonds due June 1, 2012, C$146 million of 3.75% bonds due June 1, 2012 and C$171 million of 5.25% bonds due June 1, 2012.

The cutoff yield was 0.94% for the 1.25% bonds, 1.02% for the 1% bonds, 1.412% for the 1.5% bonds, 1.403% for the 3.75% bonds and 1.403% for the 5.25% bonds.

After settlement on May 12, there will be outstanding C$3,145,871,000 of the 1.25% bonds, C$4,469,165,000 of the 1% bonds, C$6,843,638,000 of the 1.5% bonds, C$6,376,948,000 of the 3.75% bonds and C$9,129,260,000 of the 5.25% bonds.

The bank also offered to repurchase 6% bonds due June 1, 2011, 8.5% bonds due June 1, 2011, 3.75% bonds due Sept. 1, 2011, 1.25% bonds due Dec. 1, 2011 and 1.5% bonds due March 1, 2012. None of these bonds was repurchased.

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