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Bank of Canada buys back C$500 million bonds in purchase auction
By Susanna Moon
Chicago, March 6 - Bank of Canada repurchased C$500 million of Government of Canada bonds in a repurchase auction on Tuesday.
The bank repurchased C$39 million of 3.75% bonds due June 1, 2012 with a cutoff yield of 0.96%; C$31 million of 5.25% bonds due June 1, 2012 with a cutoff yield of 0.96%; C$35 million of 1.5% bonds due Dec. 1, 2012 with a cutoff yield of 1.03%; C$320 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 1.054%; and C$75 million of 3.5% bonds due June 1, 2013 with a cutoff yield of 1.064%.
After settlement on Thursday, C$4,761,038,000 of the 3.75% bonds, C$8,200,754,000 of the 5.25% bonds, C$13,092,171,000 of the 1.5% bonds, C$15,218,269,000 of the 1.75% bonds and C$11,273,105,000 of the 3.5% bonds will remain outstanding.
The bank also offered to repurchase 1.5% bonds due June 1, 2012, 2% bonds due Sept. 1, 2012 and 5.25% bonds due June 1, 2013. None of these bonds was repurchased.
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