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

By Susanna Moon

Chicago, Aug. 16 - Bank of Canada said it bought back C$1 billion of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$130 million of 1.5% bonds due March 1, 2012, C$266 million of 1.5% bonds due June 1, 2012, C$42,824,000 of 5.25% bonds due June 1, 2012 and C$561,176,000 of 2% bonds due Sept. 1, 2012.

The cut-off yield was 0.94% for the 1.5% bonds due March 1, 2012, 0.945% for the 1.5% bonds due June 1, 2012, 0.945% for the 5.25% bonds due June 1, 2012 and 0.93% for the 2% bonds.

After settlement on Thursday, there will be outstanding C$6,916,940,000 of the 1.5% bonds due March 1, 2012, C$5,210,986,000 of the 1.5% bonds due June 1, 2012, C$8,912,436,000 of the 5.25% bonds and C$15,250,324,000 of the 2% bonds.

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

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