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Bank of Canada buys back C$370.42 million bonds in repurchase auction
By Toni Weeks
San Diego, Jan. 8 - The Bank of Canada bought back C$370,417,000 of Government of Canada marketable bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.
The bank repurchased C$75 million of 1.5% bonds due Nov 1, 2013 with a cutoff yield of 1.1%, C$25 million of 1% bonds due Feb. 1, 2014 with a cutoff yield of 1.133%, C$50 million of 2% bonds due March 1, 2014 with a cutoff yield of 1.136% and C$220,417,000 of 0.75% bonds due May 1, 2014 with a cutoff yield of 1.144%.
After settlement on Thursday, C$9,976,492,000 of the 1.5% bonds, C$10,916,675,000 of the 1% bonds, C$9,341,742,000 of the 2% bonds and C$10,160,612,000 of the 0.75% bonds will remain outstanding.
The bank also offered to repurchase the 1.75% bonds due March 1, 2013, the 3.5% bonds due June 1, 2013, the 5.25% bonds due June 1, 2013, the 3% bonds due June 1, 2014 and the 5% bonds due June 1, 2014. None of those bonds were purchased.
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