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

By Susanna Moon

Chicago, Oct. 18 - Bank of Canada said it bought back C$500 million of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$29.7 million of 1.25% bonds due Dec. 1, 2011, C$181,519,000 of 5.25% bonds due June 1, 2012 and C$288,781,000 of 2% bonds due Sept. 1, 2012.

The cut-off yield was 0.943% for the 1.25% bonds, 0.928% for the 5.25% bonds and 0.93% for the 2% bonds.

After settlement on Thursday, there will be outstanding C$5,235,132,000 of 1.25% bonds, C$8,645,023,000 of the 5.25% bonds and C$13,375,337,000 of the 2% bonds.

The bank also offered to repurchase 1.5% bonds due March 1, 2012, 1.5% bonds due June 1, 2012, 3.75% bonds due June 1, 2012 and 1.5% bonds due Dec. 1, 2012. None of these bonds were repurchased.

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