Bank of Canada buys back C$334.7 million bonds in repurchase auction

By Susanna Moon

Chicago, Sept. 6 - Bank of Canada said it bought back C$334.7 million of Government of Canada bonds in a repurchase auction on Tuesday.

The government purchased C$224 million of 1.5% bonds due March 1, 2012, C$100 million of 1.5% bonds due June 1, 2012, C$4.6 million of 3.75% bonds due June 1, 2012 and C$6.1 million of 5.25% bonds due June 1, 2012.

The cut-off yield was 0.880% for the 1.5% bonds due March 1, 2012, 0.884% for the 1.5% bonds due June 1, 2012, 0.890% for the 3.75% bonds and 0.890% for the 5.25% bonds.

After settlement on Thursday, there will be outstanding C$6,642,940,000 of the 1.5% bonds due March 1, 2012, C$5,110,986,000 of the 1.5% bonds due June 1, 2012, C$5,427,396,000 of the 3.75% bonds and C$8,906,336,000 of the 5.25% bonds.

The bank also offered to repurchase 1.25% bonds due Dec. 1, 2011, 2% bonds due Sept. 1, 2012 and 1.5% bonds due Dec. 1, 2012. None of these bonds were repurchased.

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