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

By Jennifer Chiou

New York, Dec. 21 - Bank of Canada said it bought back C$1 billion total of Government of Canada bonds in a Tuesday repurchase auction.

Specifically, the government purchased the following:

• C$89,239,000 of 1.25% bonds due June 1, 2011;

• C$100,129,000 of 6% bonds due June 1, 2011;

• C$429,063,000 of 1% bonds due Sept. 1, 2011;

• C$243 million of 3.75% bonds due Sept. 1, 2011;

• C$57,542,000 of 1.5% bonds due March 1, 2012;

• C$75 million of 1.5% bonds due June 1, 2012;

• C$2,917,000 of 3.75% bonds due June 1, 2012; and

• C$3.11 million of 5.25% bonds due June 1, 2012.

The cutoff yield was 1.11% for the 1.25% bonds, 1.11% for the 6% bonds, 1.245% for the 1% bonds, 1.234% for the 3.75% bonds due September 2011, 1.414% for the 1.5% bonds due March 2012, 1.486% for the 1.5% bonds due June 2012, 1.5% for the 3.75% bonds due June 2012 and 1.486% for the 5.25% bonds.

Following settlement on Dec. 23, there will be C$5,233,425,000 of the 1.25% bonds, C$9,191,740,000 of the 6% bonds, C$7,059,832,000 of the 1% bonds, C$6,276,931,000 of the 3.75% bonds due September 2011, C$8,778,508,000 of the 1.5% bonds due March 2012, C$7,640,638,000 of the 1.5% bonds due June 2012, C$6,693,948,000 of the 3.75% bonds due June 2012 and C$10,278,743,000 of the 5.25% bonds.

The government also offered to repurchase its C$606,151,000 of 8.5% bonds due June 1, 2014 and C$8,810,405,000 of 1.25% bonds due Dec. 1, 2011. None of these bonds was repurchased.

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