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Bank of Canada buys back C$500 million of bonds in repurchase auction
By Toni Weeks
San Diego, July 10 - 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$200 million of 2% bonds due Sept. 1, 2012 with a cutoff yield of 0.92%, C$80 million of 1.75% bonds due March 1, 2013 with a cutoff yield of 0.947% and C$220 million of 3.5% bonds due June 1, 2013 with a cutoff yield of 0.941%.
After settlement on Thursday, C$9,079,503,000 of the 2% bonds, C$12,373,666,000 of the 1.75% bonds and C$9,093,975,000 of the 3.5% bonds will remain outstanding.
The bank also offered to repurchase the 1.5% bonds due Dec. 1, 2012, 5.25% bonds due June 1, 2013, 2% bonds due Aug. 1, 2013 and 2.5% bonds due Sept. 1, 2013. None of those bonds were purchased.
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