Bank of Canada buys back C$745.71 million bonds in repurchase auction

By Susanna Moon

Chicago, July 19 - Bank of Canada said it bought back C$745,711,000 of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$101,396,000 of 1% bonds due Sept. 1, 2011, C$1,415,000 of 3.75% bonds due Sept. 1, 2011, C$480.9 million of 1.25% bonds due Dec. 1, 2011, C$150 million of 3.75% bonds due June 1, 2012 and C$12 million of 5.25% bonds due June 1, 2012.

The cut-off yield was 0.919% for the 1% bonds, 0.92% for the 3.75% bonds due Sept. 1, 2011, 1% for the 1.25% bonds, 1.191% for the 3.75% bonds due June 1, 2012 and 1.191% for the 5.25% bonds.

After settlement on Thursday, there will be C$3,577,769,000 of the 1% bonds, C$5,969,516,000 of the 3.75% bonds due Sept. 1, 2011, C$5,876,332,000 of the 1.25% bonds, C$5,443,896,000 of the 3.75% bonds due June 1, 2012 and C$8,985,260,000 of the 5.25% bonds outstanding.

The bank also offered to repurchase 1.5% bonds due March 1, 2012, 1.5% bonds due June 1, 2012 and 2% bonds due Sept. 1, 2012. None of these bonds was repurchased.

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