Bank of Canada buys back C$1 billion of bonds in repurchase action

By Toni Weeks

San Diego, Oct. 9 - Bank of Canada bought back C$1 billion of Government of Canada marketable bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.

The bank repurchased C$95,617,000 of 1.5% bonds due Dec. 1, 2012 with a cutoff yield of 0.99%, C$900 million of 3.5% bonds due June 1, 2013 with a cutoff yield of 1.075% and $4,383,000 of 5.25% bonds due June 1, 2013 with a cutoff yield of 1.075%.

After settlement on Thursday, C$8,855,092,000 of the 1.5% bonds, C$7,018,985,000 of the 3.5% bonds and C$8,142,091,000 of the 5.25% bonds will remain outstanding.

The bank also offered to repurchase the 1.75% bonds due March 1, 2013 and 1.5% bonds due Nov. 1, 2013. None of those bonds were purchased.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.