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

By Susanna Moon

Chicago, May 31 - 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$237.8 million of 1.25% bonds due Dec. 1, 2011, C$162.2 million of 1.5% bonds due June 1, 2012 and C$100 million of 3.75% bonds due June 1, 2012.

The cutoff yield was 1.075% for the 1.25% bonds, 1.275% for the 1.5% bonds and 1.277% for the 3.75% bonds.

After settlement on June 2, there will be outstanding C$7,272,148,000 of the 1.25% bonds, C$6,481,438,000 of the 1.5% bonds and C$6,276,948,000 of the 3.75% bonds.

The bank also offered to repurchase 1% bonds due Sept 1, 2011, 3.75% bonds due Sept. 1, 2011, 1.5% bonds due March 1, 2012 and 5.25% bonds due June 1, 2012. None of these bonds was repurchased.

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