Bank of Canada buys back 3% bonds due 2014 in swap for bonds due 2015

By Susanna Moon

Chicago, Oct. 21 - Bank of Canada said it bought back a total of C$518,679,000 of 3% bonds due June 1, 2014 in an exchange auction on Thursday.

The cutoff yield was negative 0.275%.

In exchange for the bonds, the bank issued investors $372,515,000 of 3% bonds due Dec. 1, 2015. The conversion ratio was 0.7182.

Following settlement on Oct. 26, there will be C$14,449,524,000 of the bonds outstanding.

The government also offered to repurchase its C$9,743,802,000 of 5% bonds due June 1, 2014, C$9 billion of 2.5% bonds due June 1, 2015, C$10,143,325,000 of 4.5% bonds due June 1, 2015, C$456,505,000 of 11.25% bonds due June 1, 2015 and its C$10,157,400,000 of 4% bonds due June 1, 2016. None of these bonds were repurchased.

© 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.