Bank of Canada buys back C$561.5 million bonds in repurchase auction

By Susanna Moon

Chicago, Sept. 13 - Bank of Canada said it bought back C$561.5 million of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$116.5 million of 1.25% bonds due Dec. 1, 2012, C$175 million of 1.5% bonds due March 1, 2012, C$25 million of 1.5% bonds due June 1, 2012, C$50 million of 2% bonds due Sept. 1, 2012 and C$195 million of 1.5% bonds due Dec. 1, 2012.

The cut-off yield was 0.900% for the 1.25% bonds, 0.941% for the 1.5% bonds due March 1, 2012, 0.93% for the 1.5% bonds due June 1, 2012, 0.941% for the 2% bonds due Sept 1, 2012 and 0.936% for the 1.5% bonds due Dec. 1, 2012.

After settlement on Thursday, there will be outstanding C$5,309,832,000 of 1.25% bonds, C$6,467,940,000 of 1.5% bonds due March 1, 2012, C$5,085,986,000 of 1.5% bonds due June 1, 2012, C$15,200,324,000 of 2% bonds due Sept 1, 2012 and C$14,216,079,000 of 1.5% bonds due Dec. 1, 2012.

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

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