Bank of Canada buys back C$121.49 million bonds in repurchase auction

By Angela McDaniels

Tacoma, Wash., Sept. 4 - Bank of Canada bought back C$121,488,000 of Government of Canada marketable bonds through a cash management bond repurchase operation on Tuesday, according to a government announcement.

The bank repurchased C$70 million of 5.25% bonds due June 1, 2013 with a cutoff yield of 1.110% and C$51,488,000 of 2.5% bonds due Sept. 1, 2013 with a cutoff yield of 1.131%.

After settlement on Thursday, C$8,362,090,000 of the 5.25% bonds and C$8,748,512,000 of the 2.5% bonds will remain outstanding.

The bank also offered to repurchase the C$9,777,004,000 of 1.5% bonds due Dec. 1, 2012, C$12,004,666,000 of 1.75% bonds due March 1, 2013, C$8,490,375,000 of 3.5% bonds due June 1, 2013 and C$11,475,000,000 of 1.5% bonds due Nov. 1, 2013. None of those bonds were purchased.

The next cash management bond repurchase operation will take place on Sept. 11.

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