Bank of Canada buys back C$500 million bonds in repurchase auction

By Jennifer Chiou

New York, Jan. 11 - Bank of Canada said it bought back a total of C$500 million of Government of Canada bonds in a Tuesday repurchase auction.

The government purchased C$100 million of 1.25% bonds due June 1, 2011, C$3,447,000 of 6% bonds due June 1, 2011, C$139,714,000 of 1% bonds due Sept. 1, 2011, C$58 million of 3.75% bonds due Sept. 1, 2011, C$72,059,000 of 1.25% bonds due Dec. 1, 2011, C$1.78 million of 1.5% bonds due March 1, 2012, C$100 million of 1.5% bonds due June 1, 2012 and C$25 million of 5.25% bonds due June 1, 2012.

The cutoff yield was 1.11% for the 1.25% bonds due June 1, 2011, 1.142% for the 6% bonds, 1.263% for the 1% bonds, 1.253% for the 3.75% bonds, 1.37% for the 1.25% bonds due Dec. 1, 2011, 1.483% for the 1.5% bonds due March 1, 2012 and 1.554% for the 1.5% bonds due June 1, 2012 and also for the 5.25% bonds.

The government also offered to repurchase C$606,151,000 of 8.5% bonds due June 1, 2011 and C$6,693,948,000 of 3.75% bonds due June 1, 2012. None of these bonds was repurchased.

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