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Bank of Canada buys back C$800 million bonds in repurchase auction
By Susanna Moon
Chicago, Dec. 6 - Bank of Canada said it bought back C$800 million of Government of Canada bonds in a repurchase auction on Tuesday.
The government purchased C$150 of 2% bonds due Sept. 1, 2012, C$50 million of 1.5% bonds due Dec. 1, 2012, C$585 million of 1.75% bonds due March 1, 2013 and C$15 million of 3.5% bonds due June 1, 2013.
The cut-off yield was 0.91% for the 2% bonds, 0.895% for the 1.5% bonds, 0.89% for the 1.75% bonds and 0.895% for the 3.5% bonds.
After settlement on Thursday, there will be outstanding C$12,495,384,000 of the 2% bonds and C$13,541,171,000 of the 1.5% bonds, C$18,405,269,000 of the 1.75% bonds and C$13,315,596,000 of the 3.5% bonds.
The bank also offered to repurchase the 1.5% bonds due March 1, 2012, 1.5% bonds due June 1, 2012, 3.75% bonds due June 1, 2012, 5.25% bonds due June 1, 2012 and 5.25% bonds due June 1, 2013. None of these bonds was repurchased.
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