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Bank of Canada buys back C$1 billion of bonds in repurchase auction
By Susanna Moon
Chicago, Feb. 14 - Bank of Canada repurchased C$1 billion of Government of Canada bonds in a repurchase auction on Tuesday.
The bank repurchased
• C$96 million of 1.5% bonds due June 1, 2012 with a cutoff yield of 0.95%;
• C$69 million of 3.75% bonds due June 1, 2012 with a cutoff yield of 0.946%;
• C$61 million of 5.25% bonds due June 1, 2012 with a cutoff yield of 0.951%;
• C$224 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 1.057%; and
• C$550 million of 3.5% bonds due June 1, 2013 with a cutoff yield of 1.061%.
After settlement on Thursday, C$3,333,366,000 of the 1.5% bonds, C$4,818,038,000 of the 3.75% bonds, C$8,231,754,000 of the 5.25% bonds, C$15,852,269,000 of the 1.75% bonds and C$11,516,105,000 of the 3.5% bonds will remain outstanding.
The bank also offered to repurchase 1.5% bonds due March 1, 2012, 2% bonds due Sept. 1, 2012, 1.5% bonds due Dec. 1, 2012 and 5.25% bonds due June 1, 2013. None of these bonds was repurchased.
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