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Bank of Canada buys back C$500 million of bonds in repurchase auction
By Tali David
Minneapolis, Oct. 31 - The Bank of Canada bought back C$500 million of Government of Canada marketable bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.
The bank repurchased C$400 million of 1.5% bonds due Dec. 1, 2012 with a cutoff yield of 0.99% and C$100 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 1.008%.
After settlement on Thursday, C$7,790,092,000 of the 1.5% bonds and C$11,029,666,000 of the 1.75% bonds will remain outstanding.
The bank also offered to repurchase the 3.5% bonds due June 1, 2013, the 5.25% bonds due June 1, 2013 and the 1.5% bonds due Nov. 1, 2013. None of those bonds were purchased.
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