Bank of Canada buys back C$500 million of bonds in repurchase auction

By Susanna Moon

Chicago, Feb. 21 - Bank of Canada repurchased C$500 million of Government of Canada bonds in a repurchase auction on Tuesday.

The bank repurchased

• C$18 million of 3.75% bonds due June 1, 2012 with a cutoff yield of 0.953%;

• C$314 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 1.061%; and

• C$168 million of 3.5% bonds due June 1, 2013 with a cutoff yield of 1.07%.

After settlement on Thursday, C$4,800,038,000 of the 3.75% bonds, C$15,538,269,000 of the 1.75% bonds and C$11,348,105,000 of the 3.5% bonds will remain outstanding.

The bank also offered to repurchase 1.5% bonds due March 1, 2012, 1.5% bonds due June 1, 2012, 5.25% bonds due June 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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