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Bank of Canada buys back C$1 billion bonds in repurchase auction
By Susanna Moon
Chicago, April 9 - Bank of Canada bought back C$1 billion of Government of Canada bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.
The bank repurchased C$137 million of its 1.5% bonds due June 1, 2012 with a cutoff yield of 0.9%, C$175 million of its 2% bonds due Sept. 1, 2012 with a cutoff yield of 0.993%, C$270 million of its 1.5% bonds due Dec. 1, 2012 with a cutoff yield of 1.049% and C$418 million of its 1.75% bonds due March 1, 2013 with a cutoff yield of 1.082%.
After settlement on Thursday, C$3,196,366,000 of the 1.5% bonds due June 1, 2012, C$11,063,734,000 of the 2% bonds, $12,737,171,000 of the 1.5% bonds due Dec. 1, 2012 and C$12,875,666,000 of the 1.75% bonds will remain outstanding.
The bank also offered to repurchase 3.75% bonds due June 1, 2012, the 5.25% bonds due June 1, 2012, the 3.5% bonds due June 1, 2013 and the 5.25% bonds due June 1, 2013. None of those bonds were purchased.
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