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FINWIRES

Canada's Five-Year Bond Auction Gets Offers for Almost Three Times The Amount on Offer

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Canada's five-year Government bond auction drew solid demand, with C$5 billion sold at an average yield of 3.344% against C$13.9 billion in competitive bids, resulting in a 2.78 times coverage ratio, according to data on the Bank of Canada.

Accepted yields ranged from 3.343% to 3.345%, with distributors receiving 51.9% of the bonds and customers 48.1%, according to the BoC's website.

Canadian accounts received 58.5% of allocations, compared with 41.5% for international accounts.

The bonds' maturity is Sept. 1, 2031 and the coupon is 3.000%.

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