Bank of Canada buys back C$760.9 million bonds in repurchase auction

By Jennifer Chiou

New York, Sept. 27 - Bank of Canada said it bought back a total C$760.9 million of Government of Canada bonds in a repurchase auction on Tuesday.

The government specifically purchased C$271.9 million of 1.5% bonds due June 1, 2012, C$425 million of 2% bonds due Sept. 1, 2012 and C$64 million of 1.5% bonds due Dec. 1, 2012.

The cut-off yield was 0.886% for the 1.5% bonds due June 1, 2012, 0.9% for the 2% bonds and 0.928% for the 1.5% bonds due Dec. 1, 2012.

After settlement on Thursday, there will be outstanding C$4,450,727,000 of 1.5% bonds due June 1, 2012, C$14,685,324,000 of the 2% bonds and C$14,152,079,000 of the 1.5% bonds due Dec. 1, 2012.

The bank also offered to repurchase 1.25% bonds due Dec. 1, 2012, 1.5% bonds due March 1, 2012, 3.75% bonds due June 1, 2012 and 5.25% bonds due June 1, 2012. None of these bonds was repurchased.

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