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

By Susanna Moon

Chicago, Nov. 22 - Bank of Canada said it bought back C$1 billion of Government of Canada bonds in a repurchase auction on Wednesday.

The government purchased C$51 million of 1.25% bonds due Dec. 1, 2011, C$200 million of 1.5% bonds due June 1, 2012, C$81,952,000 of 3.75% bonds due June 1, 2012, C$73,905,000 of 5.25% bonds due June 1, 2012, C$42,953,000 of 2% bonds due Sept. 1, 2012 and C$550.19 million of 1.5% bonds due Dec. 1, 2012.

The cut-off yield was 0.900% for the 1.25% bonds, 0.907% for the 1.5% bonds due June 1, 2012, 0.901% for the 3.75% bonds, 0.905% for the 5.25% bonds, 0.899% for the 2% bonds and 0.880% for the 1.5% bonds due Dec. 1, 2012.

After settlement on Wednesday, there will be outstanding C$4,978,132,000 of the 1.25% bonds, C$3,725,274,000 of the 1.5% bonds due June 1, 2012, C$5,029,108,000 of the 3.75% bonds, C$8,493,818,000 of the 5.25% bonds, C$12,645,384,000 of the 2% bonds and C$13,591,171,000 of the 1.5% bonds due Dec. 1, 2012.

The bank also offered to repurchase the 1.5% bonds due March 1, 2012. None of these bonds were repurchased.

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