Bank of Canada buys back C$377.86 billion bonds in repurchase auction

By Jennifer Chiou

New York, Dec. 4 - The Bank of Canada bought back C$377,855,000 of Government of Canada marketable bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.

The bank repurchased C$126 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 1%, C$102 million of 3.5% bonds due June 1, 2013 with a cutoff yield of 1.02%, C$33 million of 5.25% bonds due June 1, 2013 with a cutoff yield of 1.02%, C$45 million of 1.5% bonds due Nov. 1, 2013 with a cutoff yield of 1.056%, C$21,855,000 of 2% bonds due March 1, 2014 with a cutoff yield of 1.055% and C$50 million of 0.75% bonds due May 1, 2014 with a cutoff yield of 1.052%.

After settlement on Thursday, C$8,997,174,000 of the 1.75% bonds, C$6,866,985,000 of the 3.5% bonds, C$8,093,291,000 of the 5.25% bonds, C$11,036,492,000 of the 1.5% bonds, C$9,578,145,000 of the 2% bonds and C$10,816,636,000 of the 0.75% bonds will remain outstanding.

The bank also offered to repurchase the 1% bonds due Feb. 1, 2014, 3% bonds due June 1, 2014 and the 5% bonds due June 1, 2014. None of those bonds were purchased.

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