Bank of Canada buys back C$583.79 million bonds in repurchase auction

By Susanna Moon

Chicago, March 1 - Bank of Canada said it bought back C$583,793,000 of Government of Canada bonds in a Tuesday repurchase auction.

The government purchased C$218,752,000 of 1.25% bonds due June 1, 2011, C$159,049,000 of 6% bonds due June 1, 2011, C$90,992,000 of 1% bonds due Sept. 1, 2011 and C$115 million of 1.5% bonds due March 1, 2012.

The cutoff yield was 0.980% for the 1.25% bonds, 0.989% for the 6% bonds, 1.130% for the 1% bonds and 1.410% for the 1.5% bonds.

After settlement on March 3, there will be C$4,021,640,000 of the 1.25% bonds, C$8,917,416,00 of the 6% bonds, C$6,729,126,000 of the 1% bonds and C$8,366,728,000 of the 1.5% bonds outstanding.

The government also offered to repurchase the 8.5% bonds due June 1, 2011, 3.75% bonds due Sept. 1, 2011, 1.25% bonds due Dec. 1, 2011, 1.5% bonds due June 1, 2012, 3.75% bonds due June 1, 2012 and 5.25% bonds due June 1, 2012. None of these bonds was repurchased.

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