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Bank of Canada buys back C$500 million bonds in repurchase auction
By Susanna Moon
Chicago, April 3 - Bank of Canada bought back C$500 million of Government of Canada bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.
The bank repurchased C$20.05 million of its 3.75% bonds due June 1, 2012 with a cutoff yield of 0.926%, C$125,814,000 of its 2% bonds due Sept. 1, 2012 with a cutoff yield of 1%, C$100,011,000 of its 1.75% bonds due March 1, 2013 with a cutoff yield of 1.072% and C$254,125,000 of its 3.5% bonds due June 1, 2013 with a cutoff yield of 1.096%.
After settlement on Thursday, C$4,740,988,000 of the 3.75% bonds, C$11,238,734,000 of the 2% bonds, C$13,293,666,000 of the 1.75% bonds and C$10,550,758,000 of the 3.5% bonds will remain outstanding.
The bank also offered to repurchase 1.5% bonds due June 1, 2012, the 5.25% bonds due June 1, 2012, the 1.5% bonds due Dec. 1, 2012 and the 5.25% bonds due June 1, 2013. None of those bonds were purchased.
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